The Benefits of Planned Giving
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Individuals have a wide variety of financial and philanthropic priorities which may include income, investments, retirement and bequests.
The National Coalition for Cancer Survivorship has a range of planned giving options that help you tailor your gift of cash or other assets to suit your personal circumstances and that may enable you to make a greater gift than you ever thought possible.
Planned giving can include many types of gifts including securities, wills, trusts, charitable gift annuities, charitable IRA rollover gifts, donor advised funds and other types of donations including real estate, gold and other precious metals, and personal property and other assets.
The benefits of gifting appreciated stock to NCCS
If you are contemplating making a gift to NCCS it is in your best interest to determine the most beneficial means for the contribution to work for both you and NCCS. Gifting appreciated stock is one of the most effective ways of obtaining tax savings for you and a significant benefit to NCCS.
A charitable contribution of long-term appreciated securities – stocks, bonds, and/or mutual funds that have realized appreciation over time is one of the most tax-efficient ways to give and such a donation will make a significant difference to NCCS.
There are two key advantages to donating long-term appreciated securities:
- Any appreciated securities with unrealized long term gains (the security must have been purchased over one year ago, and have a current market value greater than their original cost) may be donated to NCCS and you will benefit by taking a tax deduction for the full fair market value of the donated securities at the date of the contribution.
- Since the securities are donated and not sold, capital gains from selling the securities no longer apply.
The tax advantage to you will of course also have the effect of benefiting NCCS. NCCS will acquire the donated securities at the full fair market value at the date of donation.
To obtain the tax benefit for 2013 the donation of the stock should be completed by December 31, 2013. The simplest way for the donation to occur is for you to transfer, or instruct your financial advisor to transfer, the securities from your investment account to the NCCS investment account. If this transaction is completed by December 31 the tax donation will occur in 2013.
The gift of appreciated stock is fully deductible up to 30% of your adjusted gross income. Any excess can generally be carried forward and deducted over as many as five subsequent years. There may be limitations on your deduction so you should contact your tax advisor.