Giving stocks and bonds that have increased in value (and that you have owned for more than one year) provides even greater tax benefits than giving cash. Not only is the market value of the securities deductible (subject to applicable limitations), but you also avoid paying the capital gains tax on the appreciation.
The easiest way to transfer securities is to have your broker contact Charlotte Latin’s Development Office at (704) 846-7251. The School will communicate its wishes to sell immediately all stocks or bonds, which are transferred into the School’s name. The broker then sends the proceeds from the sale directly to Charlotte Latin. A gift of securities is considered complete when the shares are received in the School’s account.
Another way to transfer securities is to send the actual certificates to the School by registered mail, and under separate cover, a signed stock power with your signature guaranteed. A gift made this way is considered complete as of the postmarked date of mailing.
Securities that have decreased in market value still make a beneficial gift to Charlotte Latin. First sell the securities, then give the School the cash proceeds. You can deduct your capital loss to offset capital gains realized in the year the gift is made.
Thank you for your inquiry. We would be pleased to discuss your interest in making a stock contribution. You may contact Harry Creemers (hcreemers@charlottelatin.org) or Lucy Anderson (landerson@charlottelatin.org) in the Development Office, or Sally Smith (ssmith@charlottelatin.org) in the Alumni Office, either by email or at 704-846-1100.
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