Are you considering a year-end contribution to the New Jersey
Audubon Society? In addition to a cash gift, a donation of
appreciated securities is another way to contribute which can
often prove to be a great tax-wise method of giving.
Consider this: If you give a gift of stock which you have
held for more than one year, and the stock has risen in value
since you acquired it, you would receive a tax deduction for the
fair market value of the stock at the time of transfer to
charity and you would also pay no capital gains tax on the stock
gift. While your total deduction is limited to 30% of your
adjusted gross income in any year, you can take any unused
deduction over five succeeding tax years. Therefore, you can
actually receive more of a tax saving benefit by giving a gift
of appreciated stock than if you made a cash gift of equal
value!
How do you donate stock to New Jersey Audubon? Let your
broker or bank representative know the number of shares of each
security you want to donate and just ask them to telephone John
Carno, New Jersey Audubon Society’s vice president for
development, at 908-204-8998 for transfer instructions. Do not
have them sell the securities on the Society’s behalf, and don’t
send the securities to a transfer agent to be transferred to New
Jersey Audubon Society’s name.
If you have securities in certificate form and they are not
held by a broker or banker, you can send or deliver them to New
Jersey Audubon by first class mail, but you should not endorse
or sign them. You should also send, in a separate envelope, a
signed stock or bond power for each security. If you do not
have a stock or bond power, you can obtain these forms from your
bank or broker or obtain them from the development office.
Please do not fill in the Society’s name as transferee on either
the stock certificate or the stock power. Send the certificates
and the stock power in separate envelopes to: John Carno, Vice
President for Development, New Jersey Audubon Society, P.O. Box
126, Bernardsville, New Jersey 07924.
If you have any questions regarding donations of appreciated
stocks or other securities, or if you would like to learn more
about other planned giving strategies which could save you tax
dollars while helping New Jersey Audubon Society, call John
Carno at 908-204-8998. We also recommend that you consult your
legal and tax advisors before making any decisions based upon
this information, to be certain that this method of giving is
best for you.
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