Why stock? Donating stock or securities, particularly those that have increased in value, or that you have held for more than a year, can be a wonderful way to potentially give a bit to Venice Arts than you could with a cash gift, while reaping these benefits:
- Your federal tax deduction will be based on the stock's fair market value (FMV) on the date of your gift if the stock was owned for more than one year.
- You avoid being taxed on the capital gains when you donate appreciated stock.
A few things to consider: Stock owned for less than a year is a short-term asset and may not produce tax benefits. Additionally, you may be eligible for a 5-year carry-over of your deduction if the FMV is more than 30% of your adjusted gross income. For stocks that have decreased in value, you might consider selling them to make a cash gift to Venice Arts, as this may be more beneficial from a tax perspective, allowing you to take a capital loss on federal taxes, while still receiving the benefits of a charitable contribution. Venice Arts is not in a position to offer financial advice. Be sure to contact an attorney or financial advisor to discuss the benefits and restrictions of stock donations specific to your situation.
To make a stock transfer to Venice Arts:
Account Name: Venice Arts
Account #: 82038524 TD Ameritrade
After the stock transfer has been completed, please fill in the Stock Gift Form below so that we can assure that your gift is properly recorded and acknowledged. Questions? Contact our Associate Director, Elysa Voshell, at email@example.com or 310.392.0846.
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