GIVE SMARTER: DONATE APPRECIATED SECURITIES FOR LOCAL HEALTH CARE
By Beth Shafer, Growth and Development Coordinator
Veterans Memorial Health Care Foundation
If you have seen your investments grow over the years, you may have a powerful way to make a meaningful impact in your community: donating appreciated securities. By donating stocks or mutual funds that have grown in value and have been held for more than one year, you can support Veterans Memorial Health Care Foundation and enjoy valuable tax benefits.
It works because when you donate appreciated securities, you transfer the full market value to the Foundation without paying any capital gains tax. You may also qualify for a tax deduction on the full value of your gift if you itemize your deductions.
It is very easy to give. Simply contact your broker to transfer your appreciated securities directly to the Foundation and claim your deduction. The Foundation will coordinate with your brokerage account and their brokerage account to ensure a smooth process.
One anonymous donor recently said, “I inherited this stock from my grandparents years ago and haven’t touched it. If I cashed it in, I would owe a lot in capital gains tax, so it just makes sense to donate it directly to the Veterans Memorial Health Care Foundation.”
Example: Jane bought $5,000 in stock that’s now worth $50,000. Selling it first would cost $6,750 in taxes. By donating directly, the Foundation gets the full $50,000—and Jane gets a deduction for the full amount.
Donating appreciated securities is a smart way to maximize your giving power and support quality health care in our community. For more information, please contact Beth Shafer, Growth and Development Coordinator at Veterans Memorial Hospital at 568-3411.
