Giving stocks that have appreciated in value can be a very advantageous method for contributing to Little Lights.
Typically, the giver is able to take the full market value of the securities as an itemized deduction on the date of the transfer. Using this method, the giver does not incur any tax on the gain represented by the difference between the cost and the current market value of the securities.
- Contact your broker and tell them to set up a transfer of stock as a gift to a non-profit.
- Provide your broker with these details regarding Little Lights’ account at Schwab:
- DTC#: 0164 Code 40
- Account #: 5673-9608
- Brokerage routing #: 021000089
- For the benefit of: Little Lights Urban Ministries
- Please note, your broker does not provide your name with this transaction, to accurately attribute this gift to you and provide you with a tax deductible receipt, we need the following details:
- Your name and mailing address
- Ticker symbol of the stock
- Number of shares you are giving
- Date the gift order was placed with your broker
- Please send these details to: firstname.lastname@example.org
For additional questions or to mail the requested contact details to us:
760 7th Street, SE
Washington, DC 20003
*For mutual fund shares please contact your broker for their instructions for giving.
**As with any stocks or securities-related transactions, be sure to consult your broker for details regarding how the transaction impacts your investment strategies.
***As with any tax-related transaction, be sure to consult your tax advisor for details regarding tax deductibility and how this transaction may impact your specific tax situation.