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Don’t Run Away From An Opportunity—Put Your Appreciated Securities to Work For Yourself and Guiding Eyes for the Blind

Posted December 8th, 2016

For many of our supporters, it makes tax sense to contribute appreciated securities (stocks, bonds and mutual funds held over a year) to Guiding Eyes rather than cash.  A $10,000 cash gift and a gift of appreciated stock worth $10,000 both generate the same tax deduction. But the stock donation has an additional benefit— because you do not recognize (or pay tax) on the capital gain attributable to the stock’s growth when you transfer it to Guiding Eyes, you can leverage a larger donation than you could make with a cash gift.

A Simple Example: Ann would like to make a $10,000 gift to Guiding Eyes for the Blind. She is considering writing a check to Guiding Eyes for $10,000.  Ann also has stock now worth $10,000 that she bought many years ago for $2,500.  If Ann transfers the stock to Guiding Eyes, in effect, she will make a $10,000 gift with an out-of-pocket cost of $2,500.

 

Delivering and Valuing the Securities:

securitiesA gift of securities is complete (and tax deductible) only when the donor has unconditionally given up control of the securities to the charity or its agent. The value of publically-traded stock for gift purposes is the average of the highest and lowest selling price per share/unit on the gift date.

Securities Held in a Brokerage Account: If the securities are held in a brokerage account, you should instruct your broker in writing to transfer them electronically to the broker for Guiding Eyes. (REMEMBER:DO NOT DIRECT YOUR BROKER TO SELL THE SECURITIES AND TRANSFER THE PROCEEDS TO GUIDING EYES.)

 

The gift is complete when the securities are received in our account. Please contact Ms. Susan Ludwig, Controller, at Guiding Eyes, at (914) 243-2253 or sludwig@guidingeyes.org prior to the transfer so that you will receive the necessary stock transfer instructions and a proper acknowledgement for your gift.

Securities Held in Certificate Form: You may either hand deliver or mail the securities to Guiding Eyes. You must also provide Guiding Eyes with a fully-executed stock power to complete the gift. If you mail the securities, please be sure to send the stock power in a separate envelope for security reasons. The delivery date is the gift date if you personally deliver the securities and stock power to Guiding Eyes. If you separately mail the securities and stock power to Guiding Eyes, the gift date is the latter of the two postmark dates.

Securities and Life Income Gifts: There may be substantial tax benefits for establishing a charitable gift annuity or charitable remainder trust with appreciated securities. Please contact Gail Resnikoff for more details.

If you have questions or would like more information about gifts of securities, please contact Kimberly Benson or Gail Resnikoff:

 

Kimberly Benson Special Gifts Officer
(914) 243-2211
kbenson@guidingeyes.org

Gail Resnikoff Director of Planned Giving
(914) 243-2237
gresnikoff@guidingeyes.org

Guiding Eyes for the Blind
611 Granite Springs Road
Yorktown Heights, NY 10598

The foregoing is intended to convey general information only, and does not constitute legal, tax, or financial advice. We strongly suggest that you consult with your professional advisors before making a charitable gift. 

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