Donating appreciated assets (Stocks, Bonds, or Securities) can avoid federal capital gains taxes and provide a federal income tax deduction for the current market value of the gift.
An IRA charitable rollover is a way you can help support our work and benefit with no taxes. Contact your IRA custodian and make a qualified charitable distribution. We will acknowledge your generous gifts as a qualified charitable distribution, which may satisfy your Required Minimum Distribution (RMD), if applicable.
Donating stock to BISM can be more beneficial than donating cash.
You can avoid capital gains tax. You don’t pay capital gain tax on stock donations that would otherwise be owed if you sold stock yourself. This also means donating stock to charity can be more advantageous to the organization.
Asset donations provide tax-efficient benefits.
When an appreciated security, such as a stock, is held at least one year and is donated to a charitable organization, the fair market value of that stock may be itemized as an income tax deduction. So donating stock to charity not only saves you on paying capital gains, but it can also potentially lower your taxable income.
How to donate stock to BISM?
- Contact your brokerage account and provide them this information:
- DTC number: 0226
- Account #: H2Y348606
- Name: BLIND INDUSTRIES AND SERVICES OF MARYLAND CORPORATION
- BISM’s Broker: Annie Morrison – Zuma Financial – (443) 647-3599, annie@zumafinancial.com
- Notify BISM you are donating stock by contacting Jessica Normington at (410) 737-2636, or jnormington@bism.org.
Questions?
If you have any questions about gifts in stock, contact Jessica Normington, Development Director at (410) 737-2636 or jnormington@bism.org.
