A New Way to Support Alma: Donate Stock

Did you know that you can make a donation of appreciated stock to Alma del Mar and enjoy increased tax benefits?

The deduction for a donation of property (including stock) to a charity is equal to the  property’s current fair market value. When the donated property is  an investment, the donor does not have to recognize the capital gain, meaning you can still take a charitable  deduction for your donation while also avoiding tax on the unrealized capital gains of the  donated property. Note that this is only true for shares of appreciated stock that you have held for more than one year.

We’ve opened a brokerage account with Fidelity to help you make your donations of stock today. To transfer shares of stock to Alma del Mar, please make not of the following important information:

Alma’s Account Number: Z73737976

Bank: National Financial Services

DTC Number: 0226
Another way to realize tax benefits from your donation to Alma is through tax-free IRA Distributions. If you own an IRA and are older than 70 and 6 months, you have the option in 2013 to make qualified charitable distributions to organizations such as Alma del Mar from your IRA without the need to declare the distribution as income. Gifts count towards satisfying the minimum distribution requirement and therefore can reduce your taxable income. Gifts from an IRA not only reduce taxable income, but also adjusted gross income that can create further tax savings. There is no guarantee that this provision of the tax code will be carried forward into 2014. To realize the benefits of a charitable distribution from your IRA, have the bank make the check directly out to Alma del Mar when they deduct the donation from your IRA account.
Posted in Ops @ Alma

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