Donating appreciated stock to TennGreen is a cost-effective way to support conserving our water and land. And, thanks to the generosity of Charles Schwab, TennGreen incurs no fees on transfers!
For long-held securities given to nonprofit organizations (more than one year), both the donation and the tax deduction are greater than they would be if the donor were to sell the shares and donate the cash instead. By donating appreciated stock, donors avoid paying capital gains taxes.
To be eligible for a charitable deduction for a tax year, donations of stock need to be received by the end of the year. Because different assets take different amounts of time to be transferred, particularly privately-held companies, you should initiate your transactions as early as possible.
For those who are over the age 70½, these donors can transfer up to $100,000 from their Individual Retirement Account to TennGreen tax-free! The gift will counts toward the required minimum distribution for the year, but is not included in the donor’s adjusted gross income. This tactic can provide a tax break even if the donor does not itemize your deductions.
To transfer a gift of stock to TennGreen, or talk through other options to maximize the impact of your giving, contact our experts at info@tenngreen.org or give us a call at 615-329-4441.