Stocks & DAFs
Give a Gift of Stock from your IRA or Donor-Advised Fund
What could be better than helping provide food and resources for those in need, while also making a smart financial decision? By donating appreciated stock you’ve owned for more than a year, you can reap great tax advantages.
If You Have Stock
Directly transferring appreciated stock to Second Harvest, instead of selling it yourself first, allows you to avoid paying capital gains tax. Plus, you may be entitled to a significant tax deduction.
If you are 70 ½ or older, you may make gifts directly from your IRA to Second Harvest without having to pay income taxes on that money.
If You Have a Donor-Advised Fund
Your donor-advised fund allows you to participate in the funding process with great flexibility by recommending a gift to Second Harvest with money you have already designated for this purpose.
Second Harvest accepts the following transfer methods for gifts of securities:
Broker: Sanford C. Bernstein & Co., LLC
Acct Name: Second Harvest Food Bank
Tax ID: 62-1049447
So we may properly credit you for your gift, please make sure your broker includes your name in the transfer.
Please contact your tax adviser to determine your personal tax benefits. For further information about donating stocks or donor-advised funds to Second Harvest, contact Marian Eidson, Director of Donor Relationships, by phone 615-627-1564 or email.
Donor Spotlight – Carey and Judy Parsons
You probably know that in most cases, if you’re itemizing your taxes, you can write off charitable contributions. The Parsons family takes it one step further: Their financial planning includes annual stock transfers directly to Second Harvest.
That’s because if you give appreciated stock, you can claim the fair market value of the securities (even if you paid much less for them). And the nonprofit still reaps the full benefit of the stocks’ increased value.
Carey Parsons said he and his wife, Judy, are thankful they can share their financial blessings for such a worthy cause. “It brings us great joy to know that a high percentage of this channel of giving reaches families and children in nearby communities who are at risk of hunger,” he said.
To learn more about donating stock or donor-advised funds, call Marian Eidson at (615) 627-1564.