Donating stocks you have held for more than a year and that have appreciated in value is “one of the most tax-smart ways to give,” according to FidelityCharitable.org.
The transaction avoids the capital gains tax on the appreciated stock, so by giving the stock directly to a qualified charity like the Beacon, you are donating (and can deduct) 20% more than if you sold the stock and donated the after-tax proceeds of the sale.
For more information, google “donate appreciated stock” and then consult with your financial advisor and your accountant.
To make a donation of stock to the Beacon:
Please e-mail Accounting@nullAndoverBeacon.com with your name, the name of the stock, and number of shares you’ll be donating so that your gift may be processed quickly and accurately.
Have your broker transfer the shares to:
Our broker’s DTC number: 0226
Our account name: Community Publishing of Andover, Inc.
Our account number: Z40-049685
When the transfer has been initiated, please send an e-mail to Accounting@nullAndoverBeacon.com or call us at (603) 735-6099. The DTC transfer will take approximately three business days to be completed.