LIFT is able to accept donations in the form of securities like stocks, bonds, or mutual funds. This includes important information to help you make your gift quickly and efficiently.
The benefits of donating securities to LIFT:
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:
Transferring Gifts of Securities
1. Please notify LIFT by mail or e-mail that you will be making a gift. Because your name will not accompany the electronic transfer of shares it is important that you notify our team so we may acknowledge your gift correctly.
Rebecca Ross
LIFT, Inc.
999 North Capitol St. NE, Suite 310
Washington, DC 20002
RRoss@WhyWeLIFT.org
2. After you have alerted us to expect your gift, please instruct your broker to make the transfer with the necessary information below.
Wire Transfer:
Bank Name: The Bank of New York
Bank Address: 1 Wall Street, New York, NY 10286
ABA Number: 021000018
Beneficiary: Pershing LLC
Beneficiary Account Number: 890-051238-5
Ultimate Beneficiary: LIFT, Inc
Ultimate Beneficiary Account Number: H16012884
DTC/Stock Donation:
Bank: The Bank of New York
DTCC Clearing Number: 0443
Agent Bank/Institutional Number: 94109
Name on the Account: LIFT, Inc
Account Number: H16012884
Please include as much identifying information for the donor as possible so that we may expedite your acknowledgement.
Mail or e-mail this information to Rebecca Ross at LIFT, Inc.
RRoss@WhyWeLIFT.org
Donors Name: Phone Number:
Address:
City:
State:
Zip Code:
Type of Stock: Number of Shares:
Broker’s Name: Broker’s Number:
Thank you for LIFTing With Us!