Tax efficient ways to give
Donating stock to Second Harvest Heartland is a meaningful, effective way to fulfill one of life's most basic needs — making sure people have enough food to feed themselves and their families. Donating stock makes good financial sense as well. Giving stock held more than 12 months offers two-fold tax savings:
- You avoid paying capital gains tax on the increase in value of your stock.
- You also receive a tax deduction for the full fair market value of the stock on the date of the gift. Subtracting the tax savings from what you originally paid for the stock can result in a gift that costs just pennies on the dollar. This is an excellent option for stock that has appreciated substantially in value.
Stock brokers require instructions in writing to transfer shares. Provide one copy of the form to your stock broker, and mail or email one copy to us at Second Harvest Heartland (address and email provided on the form).
IRA contribution information
By making a gift through an IRA or other qualified retirement plans, you can eliminate twofold taxation. Name Second Harvest Heartland as the beneficiary of your IRA’s balance left after your lifetime and you may be able to eliminate income and estate taxes on the balance. Make the gift from the most highly taxed assets and you can leave more for family.
To transfer shares: Stock brokers require instructions in writing. Click here to complete and download the form to transfer shares. Provide one copy of the form to your stock broker, and mail or email one copy to us at Second Harvest Heartland (address and email provided on the form).
To transfer mutual fund assets: If you are transferring a mutual fund asset, please contact Gavin Burns, Bremer Bank, at 612.782.1526 BEFORE initiating that transaction. Mutual funds require special handling.
Notify us after you complete your transfer request: It is important to notify Second Harvest Heartland when you have completed your request to your broker to ensure that your gift is properly credited.
To do this, or if you have any questions, please call Linne Lemke, Major Gifts Officer, at 651.282.0858. or firstname.lastname@example.org.
For your particular circumstances, please consult your professional tax advisor. For questions regarding making a gift to Second Harvest Heartland, contact us.