LIFT is able to accept donations in the form of stocks, bonds, or mutual funds. Download the instructions sheet. This includes important information to help you make your gift quickly and efficiently.
The benefits of donating securities:
A gift of appreciated securities held for more than one year may provide significant benefits to you as a contributor, such as:
– Entitling you to a charitable income tax deduction for the fair market value of the gifted securities as of the date of gift.
– Eliminating capital gains tax that would ordinarily become due if you had sold the appreciated securities on the open market and donated the proceeds from the sale to charity.
– Claiming your charitable deduction against up to 30% of your adjusted gross income. Any unused deductions can be carried forward over the next five years.
– Providing a way to help you to achieve your long-term financial objective of reducing your income and estate taxes.
If you have securities that have declined in value over the years and are interested in donating them to charity, you may find it more advantageous to sell the securities first and contribute the proceeds to charity as opposed to donating the securities outright. This strategy should allow you to claim a deduction for both the loss from the sale of the securities as well as the charitable gift.
How to donate securities:
Merrill Lynch Wealth Management
Bank Address: 1152 15th St, NW, Suite 6000, Washington, DC 20005
Contact: Robert V. Hetherington
Direct: (202) 659-7265
Main: (800) 825-1521
Fax: (202) 609-9284
Email: [email protected]
DTC: 8862
Account: 7WD-04854
N/O: Lift, Inc.