GIFTS OF SECURITIES
Securities or stocks held more than one year, and that have increased in value, make extremely effective gifts. Each gift of this nature serves a dual purpose: it furthers the mission of Habitat Chesapeake while offering you financial and tax benefits.
The value of your gift will be based on the average of the high and low trading prices on the date Habitat Chesapeake assumes ownership of the security. You are entitled to deductions for the fair market value of the stock on the date of the gift, plus you pay no tax on the capital gain value of the gift shares. A deduction of up to 30 percent of your adjusted gross income is available, with a five-year carry-over of excess deductions.
How to Donate
You can easily make a donation of securities through an electronic transfer authorization. To initiate the transfer of your securities, simply complete the transfer authorization form online and alert your broker of the transfer. Or you may can submit the transfer by mail, sending a copy of the authorization form to your broker as well as Habitat Chesapeake. As stock donations transfer with no accompanying donor information, these forms allow us to properly recognize your generous gift and allows your broker to electronically transfer your securities to Habitat Chesapeake.
For physical securities, we invite you to deliver them in person, by registered mail, or by courier to our office, including a copy of the authorization form so we can properly recognize your thoughtful donation. If the securities are registered in your name, please provide an Irrevocable Stock / Bond Power Form.
If you have questions regarding gifts of stocks and appreciated securities, we will be happy to walk you through this process. Contact Gregg Mitchell by emailing [email protected] or calling 443-297-5237.
Please note, all contributions are tax-deductible to the extent allowed by law.