Gifts of Stock

Now, in addition to cash donations, there is another easy way that you can contribute financially to our work.  We recently established a brokerage account so that contributions to Great Old Broads can be made by gifting stocks.  If you own stocks that have appreciated in value, it may make more sense to consider gifting these securities than gifting cash.  There are four benefits to such gifts:

1. If you sold the stocks yourself, you would have to pay capital gains taxes.  Since Great Old Broads is a tax-exempt organization, we can liquidate them with no tax liability.
2. Even if the stocks have appreciated greatly, you will be able to claim a charitable deduction for the full market value on the date of transfer and thus reduce your income tax liability for 2006.  Consult your tax advisor for more information.
3. You retain all your liquid cash for other personal needs.
4. Gifting stock may reduce your estate tax liability if this is likely to be a concern.

If you are interested in this method of contributing, please call us for more information at 970-385-9577 or email rose@greatoldbroads.org.  It is relatively simple to transfer stock from your brokerage account to our brokerage account.

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