There’s never been a better time to be strategic with your giving while helping families and individuals who are facing hunger. A gift of stock is a gift for good. Kevin, a retired pilot, likes to support causes he cares about and prefers to be strategic about his giving. He takes advantage of the tax benefit he receives by gifting stock to Second Harvest Northern Lakes—a benefit he also receives by donating bonds and mutual funds.
Rather than selling his stock and making a cash gift, he transfers the stock directly to our food bank. This allows him to avoid capital gains tax, due upon sale, and allows him to deduct the current fair market value of his stock. The “cost” to our donor is then far less than the value received by our food bank.
This holiday season, remember that a gift of stock is a gift for good.