gifts of stock
Giving stock held more than 12 months offers a two-fold tax savings. First, you avoid paying capital gains tax on the increase in value of your stock. In addition, you 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 vehicle for stock that has appreciated substantially in value.
Stockbrokers require instructions in writing. You will need to give the following delivery information to your broker to make a gift to Second Harvest Heartland:
Stock Broker: USbancorp Investments
Broker Contact: Jan Stecker 952.540.8331, Client Services 1.800.888.4700
Account No: 13130604
DTC: 0280 (for electronic transfers)
If you are transferring a mutual fund asset, please contact Robb Kline BEFORE initiating that transaction. Mutual funds require special handling.
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 contact us.