DONATING STOCK TO CHARITY
Let your charitable dollars make a substantial impact by donating stock to the Mill City Park charity.
WHAT ARE THE TAX BENEFITS OF DONATING STOCK?
Donating stock directly to a charitable organization, like Mill City Park, increases the amount of money received by the charity while reducing the donor's tax burden.
It is possible that you will be able to take advantage of IRS tax provisions to claim a charitable tax deduction for the full market value, hence, avoiding the need to pay capital gains on the transfer.
It is suggested that you contact your financial advisor prior to the donation.
HOW DOES A CHARITY BENEFIT FROM STOCK?
The benefit to the charity is that they will receive a larger donation.
If you liquidated your stocks and paid taxes with the proceeds, the charity would receive less and you will pay the capital gains.
However, when you donate stock to a charity, you typically do not have to pay taxes on the gains of the stock. Therefore, they receive a higher donated amount.
Step by Step Process
How to donate stock to Mill City Park.