What are the benefits of donating appreciated stock?
Supporters of Planned Parenthood sometimes decide to make a gift of stock that has greatly increased in value. This gift has important benefits to you too, including:
- A federal income tax deduction for the full fair market value of the donated shares.
- Complete avoidance of the capital gains tax on the appreciation of the stock.
- Your stock gift is deductible for up to 30% of your adjusted gross income in the year you make the gift, with a 5-year carry-forward for any excess.
- You can make good use of an asset you already own and benefit the work of Planned Parenthood of Southern New England at the same time.
What's the easiest way to make a gift of stock to Planned Parenthood?
Please call the Development Department at 203-865-5158, or email us at firstname.lastname@example.org let us know you will be transferring stock. Then, you may send a letter of instruction to your broker asking them to send the stock to our account. Our "DTC" information is as follows:
T. Rowe Price
Account #: 30Q256429 Pershing
Account Name: Planned Parenthood of Southern New England, Inc.
How will Planned Parenthood of Southern New England know I have made my gift of stock?
In order to credit you for your gift and provide you with a receipt, PPSNE asks that either you or your broker advise us of your gift by calling or sending a letter to us including the following information:
- The donor's name
- The type of stock and number of shares given
- The gift date
- The approximate value of the gift
- The date the stock was sold (if different from the gift date)
You may send your letter to:
Planned Parenthood of Southern New England
345 Whitney Avenue New Haven, CT 06511
Once we have received your stock gift, we'll send you our thanks in writing, including information about the value of your stock gift for tax purposes.
How are the date and value of my stock gift determined?
Your gift of stock is effective on the date the stock irrevocably leaves your control. If your bank or broker holds the stock, the gift date is the date of transfer. If you mail the stock to us, the gift date is the same as the postmark. If you hand-deliver the stock, the gift date is the date Planned Parenthood takes physical possession of the stock.
IRS rules specify the method of determining the value of publicly traded stock donated to a charitable organization. The value for each share is the average of the high and low selling prices on the date of transfer. Please see IRS Publication 561, Determining the Value of Donated Property, for details, including information about determining the date of transfer. (You may order publications from the IRS by calling 1-800-829-3676, or you may download copies of publication from the IRS website)
Are there other methods of giving stock to Planned Parenthood?
There are two other procedures you may use to donate stock, dependent upon whether your bank holds the stock or if the securities are in your possession:
- If a bank holds your stock, the trust officer may set up a temporary account in Planned Parenthood of Southern New England's name, sell the stock on our instructions and send the proceeds to PPSNE.
- If the stock is in your possession, send the stock certificate to Planned Parenthood, along with a notarized letter stating that you are making a gift of the stock to Planned Parenthood of Southern New England. The letter should be signed by all persons listed on the stock certificate. We also require that you send a "Stock Power" form (available from your broker) signed by each person listed on the stock certificate.
We invite you to call our Development Office at 203-865-5158 to discuss your gift.
Please note: The information provided above is of a general nature only;
Planned Parenthood is not rendering legal or tax advice. Individual state laws govern wills, trusts and charitable gifts made in a contractual agreement. For advice or assistance in specific cases, please consult an attorney or other professional advisor. Tax revisions may affect the accuracy of the information outlined in this document.