Making a gift through a transfer of stock or mutual funds can be very advantageous from a tax point of view, especially if you own appreciated stocks or mutual funds on which you would have to pay long term capital gains tax. By making the gift directly to a charitable organization such as the ACLU Foundation, you may avoid the capital gains tax on the appreciation of the asset, and will also realize an income tax deduction in the amount of the asset’s fair market value on the date of the gift.
If you would like to give stock, the process is very simple. You should ask your broker to transfer the asset directly to the ACLU Foundation of San Diego & Imperial Counties account with the Vanguard Group. Some brokers like to know the ACLU Foundation Tax Identification Number –- it is # 33-0325791. This number substantiates that this is a tax-deductible gift.
For mutual funds, there maybe a few more steps involved, depending on the fund.
To obtain the necessary transfer information, or if you or your broker have any questions or problems, please
©ACLU and ACLU Foundation of San Diego & Imperial Counties / P.O. Box 87131 San Diego, CA 92138-7131 / Tel: 619-232-2121
