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stock giving

Gifts of stock and/or bonds

 


 

Why donating stock may make sense for you

Do you own stocks, bonds or mutual-fund shares that have increased in value? If so, you may be able to reap considerable tax savings by donating them instead of cash. When you make a charitable gift of appreciated securities, you can:

  • Receive an income tax deduction for the full market value of your gift.
  • Avoid federal and state tax on the capital gains.
  • Make a larger gift to an Advocate hospital or program at a lower original cost to you.
  • Help improve health care and services in your community.

Let's say you purchased stock that cost you $1,500 several years ago and that is now worth $5,000. If you donate that stock you can claim a $5,000 charitable deduction on your next tax return. If you are in the 33 percent tax bracket, you will enjoy a tax savings of $1,650.

In addition, you avoid paying the capital-gains taxes that you would have paid if you had sold the stock. With a 15 percent capital-gains tax rate, you will also save an additional $525. So, you will enjoy a total tax savings of $2,175!

Your financial planner or tax advisor can assist you in evaluating tax advantages. Remember:

  • Tax advantages apply only to gifts of securities that have increased in value.
  • You must itemize your tax return in order to deduct a charitable donation.
  • You must have owned the securities for at least one year before donating them, or you will be limited to a deduction of your original purchase cost of the securities.
  • You may take a deduction valued up to 30 percent of your Adjusted Gross Income (AGI). If the deduction is greater than 30 percent of your AGI, you may carry any unused deduction forward for up to five years into the future until it has been fully used.
  • You should not allow your broker to sell the securities and send us a check. If the broker does this, the tax advantages of making the gift may be affected.

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How to donate stocks

You can donate stocks and bonds electronically or through the mail. Advocate Charitable Foundation receives all gifts of securities on behalf of all Advocate Health Care's hospitals and programs. When making a stock gift, please contact Megan Fergus at 630.929.6909 or Pat Smith-Calascibetta at 630.929.6965 so that we may properly credit and acknowledge your gift.

All correspondence should be sent to:

Advocate Charitable Foundation
3075 Highland Parkway, Ste. 600 
Downers Grove, IL 60515
Attn: ACF Finance

If your broker holds your shares in a brokerage account:

  1. Instruct your broker in writing to transfer electronically the specified shares in the name of Advocate Charitable Foundation to:
    DTC #2669, for further credit to Account # 26-98660
    (This is a Northern Trust Company account in the name of Advocate Charitable Foundation)
  2. Please send a copy of your written commitment along with a letter stating which Advocate hospital, program or fund you want your gift to benefit, to the above address.

If you or your broker holds your paper stock certificates:

  1. Please send the certificates without any endorsement or assignment via U.S. Postal Service or a delivery company (e.g., Fed Ex), along with a letter stating the purpose of your gift, to the above address.
  2. In a separate envelope, please send one endorsed stock power form per certificate to the above address. You will need to obtain a guarantee of your signature on the stock power form. (This is different than having a document notarized.) Most banks and brokers provide a signature guarantee service. Please endorse each form exactly as your name(s) appear on the front of your certificate(s). You do not need to include any other information on the form.
  3. The stock certificates will not be negotiable until we have received both envelopes.

If you have any questions, please contact Megan Fergus at 630.929.6909 or Pat Smith-Calascibetta at 630.929.6965.

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How the value of your gift is determined

Because the market fluctuates, the value of your gift, for tax purposes, will be the mean (average) of the high and the low trades on the date the gift was received.

If the shares are transferred electronically, the gift will be valued on the date the securities are received into the Foundation's account.

If the stock certificates and stock power form are sent through the mail, the gift date will be established from the later postmark of the two envelopes. (They must be sent separately.) Gifts delivered by a delivery company will be credited on the day the second envelope is received.

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Donating mutual funds

Gifts of appreciated mutual fund shares can provide you with substantial tax benefits in the form of charitable deductions, generally for the full fair-market value of the shares, as well as the avoidance of capital-gains taxes. Since the procedure for making charitable contributions varies from one mutual fund company to another, we suggest that you or your broker contact contact Megan Fergus at 630.929.6909 or Pat Smith-Calascibetta at 630.929.6965 about this type of gift.

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