Gifts of Stock and Securities
Gifts of long-term appreciated securities (assets held for more than one year) are one of the most popular types of non-cash gifts. The actual securities are donated to the Day Kimball Healthcare Foundation which in turn, will liquidate the stock to receive the monetary donation. The donor will receive a tax deduction based on the fair market value on the date of the donation.
Securities are often publicly traded stocks or other securities such as bonds, mutual fund shares, and closely held stocks. The securities can be given outright or used to fund a charitable gift annuity or a charitable remainder trust. Because of the tax benefits, donors may be able to make these outright gifts in a more cost-efficient manner than they otherwise would by making cash gifts.
Tax deductions on gifted securities are based on the stock's fair market value as of the date of the gift, with no tax on the appreciation. Donors may deduct up to 30% of adjusted gross income (AGI), with a five-year carryover for any excess. The value of the gift is the average market value price on the date the gift is made. The actual tax impact of such a gift, as well as the rules regarding this form of charitable giving, should be reviewed with a qualified tax advisor.
The effective date of the donation is the postmark date if mailed; otherwise, it's the date received by the Day Kimball Healthcare Development Office.
To make a gift of stock or securities, please contact the Development Office at 860-928-7141 for assistance. It will be helpful to have the following information at hand:
- Tentative Gift Amount
- Tentative Transfer Date
- Name of Securities
- Number of Shares
- Stockbroker/Brokerage Name & Contact Number
Gifts of Tangible Property Held Long Term
Gifts of real estate and collections such as works of art, antiques, etc. held for more than one year during a donor's lifetime, can reduce the donor's taxable estate, as well as the taxable income in the year of the gift. Valuation for tax purposes of non-cash contributions is always the responsibility of the donor. Most gifts of personal property are made with the understanding that the donated property will be liquidated to further the objectives of Day Kimball Healthcare.
Donors may deduct the current full-market value of the property up to 30% of their adjusted gross income (AGI) with a 5-year carryover for any excess.
Please contact the Development Office at 860-928-7141 for more information on making a gift of personal tangible property.