GIFTS OF STOCK
Gifts of Stocks/Securities
If you own non-cash property such as stocks and mutual funds that have grown in value and have been held more than one year, you can enjoy greater tax savings by donating the security to The Gifford Youth Achievement Center. By giving a gift of appreciated securities, you may avoid paying capital gains on the stock or security, receive a charitable gift deduction on your tax return and GYAC receives the full value of your security.
For regularly traded stock on a stock exchange, the charitable deduction is determined by using the average between the high and the low prices on the date of the gift. For over-the-counter stock, the average between the closing bid and asked prices on the date of the gift is used.
Please instruct your broker to transfer the stock to our account; do not instruct your broker to sell the stock, either in your name or in our name. For further information, please contact Peggy Gibbs, Director of Philanthropy 772.794.1005.
Your charitable gift deduction is calculated on the date the security is transferred into the GYAC’s brokerage account.