Gifts of Stock to The Salvation Army allow you to change lives for the better in Western New York and benefit you personally through tax savings.
Donors who give appreciated securities can deduct the full fair market value of their assets - not just what they paid originally - and save by avoiding all capital gains taxes on any "paper" profit.
However, a 2007 report from Fidelity Investments indicated that just 5% of households with at least $25,000 in securities had taken advantage of this remarkable giving strategy. The report concluded that American donors could realize $4.5 billion in additional tax savings if they gave appreciated securities instead of cash.
To transfer a gift of stock to The Salvation Army, call The Salvation Army and speak to a representative to ensure timely delivery of any gift of securities, especially mutual funds. It is important to transfer shares in which you have the largest paper profit and that have been held more than one year. Please have your broker call, as well, to alert us of any transfer.
Our representatives and their phone numbers are listed below.
Please call our representatives for the appropriate wording whenever you are preparing a gift through your will, living trust, IRA or other beneficiary designation.