Have provisions been completed to allow ARF to accept stock donations?
My husband Phil and I have long been interested in making a donation of appreciated stock. The tax advantage for the donor is significant. You may recall that we had some discussions about this awhile back.
Thank you for your question. For those of us in the U.S., it is timely for a couple of reasons. One, the ARF is working on getting things in place so the foundation may accept this sort of donation. Secondly, this particular type of donation has excellent benefits to be considered, especially at this time of the year, looking over our income tax liabilities.
I've just read an article from the Wall Street Journal describing how well donations of appreciated stocks are working for both donors and charitable organizations. Here's how it's a win-win-win arrangement:
The organization gets the benefit of the donation
Stock donors have an opportunity to "count their blessings" from stocks that have done well and,
In the case of stocks held more than one year, donors may claim a deduction against federal income taxes for the current market value of the shares.
Here's what the article said to consider:
Rising markets have pushed up the value of many securities.
Stock gifts net a tax deduction and spare you paying capital-gains tax.
For the best tax result, donate shares owned for more than a year.
You can't deduct charitable gifts at all if you claim what's known as the standard deduction, rather than itemizing. But if you can itemize deductions, this sort of donation - rather than cash - to Autoimmunity Research Foundation has the potential to save money.
I'll let you know as soon as we have a process in place. What a great idea!
Things are now in place so Autoimmunity Research can accept gifts of stock. Anyone who is interested in donating stock may send me a private message so I can provide the necessary details.
