Giving stock or securities to United Way of Central New York is a smart way to invest in the 102 programs in United Way’s Community Program Fund. Giving appreciated stock may allow you to bypass capital gains tax as well as donate a gift larger than you thought possible. You can also benefit from donating proceeds from a stock that has decreased in value. The process of transferring stock to United Way of Central New York is simple.
What are the benefits of giving stock?
- Receive a charitable income tax deduction for the market value of your donation.
- Eliminate capital gains taxes.
- Conserve cash on hand.
- Support your community through United Way of Central New York.
Will a stock gift be best for me?
In an example of an especially generous gift, let’s assume a gift to United Way of $10,000 to help people in our community. You need to determine the most advantageous method of giving, choosing between payroll deduction, check, or gift of stock. Below you will see the tax advantages represented by a stock that was purchased for $2,000 and now valued at $10,000—representing an $8,000 capital gain. If you sell the stock, you will realize the capital gain, but if you donate the stock, you avoid the capital gain.
What can I donate?
An appreciated stock that you have owned for more than one year provides the best tax benefits.
You can also donate proceeds from a stock that has decreased in value. You will receive a charitable deduction, plus a capital loss deduction.
Important note on valuation
The date of your gift is the day the stock passes from your control. For United Way gift crediting and accounting purposes, the value is the mean between the high and low quoted selling price of that day. Your gift will be acknowledged by United Way with the valuation of your gift. Please adhere to IRS regulations for your income tax filing purposes. Your broker will also be able to provide you with the precise value of your stock at time of transfer.
The following materials are available:
Guide to Giving Stock brochure (PDF)
For more information contact Betsy Foote, Vice President of Finance and Operations at 315-428-2205