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 more 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.
Note: Stock owned for less than a year is considered a short-term asset and may not produce attractive 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 may want to consider selling them and making a cash gift to Venice Arts, instead, as this may be more beneficial to you from a tax perspective, allowing you to take a capital loss on your federal taxes, while still receiving the benefits of having made a charitable contribution. Venice Arts is not in a position to offer financial advice. Please 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 all information related to the gift is properly recorded and acknowledged.
Questions? Contact our Associate Director, Elysa Voshell, at firstname.lastname@example.org or 310.392.0846.
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