Gifts of Securities

Gifts of Securities

Common stocks, bonds, mutual funds, and other appreciated securities may be donated to the Monticello Area Education Foundation. Depending upon the circumstances, the Foundation will either manage or liquidate the securities to achieve the donor's goals. A popular benefit of such a gift beyond the charitable income tax deduction is the avoidance, in most cases, of capital gains tax on the appreciation. Regardless of your income bracket, it is almost always to your advantage to transfer appreciated securities to the Foundation directly, rather than selling them and giving cash.

You, your broker, or bank trust officer should contact the Foundation to determine the best method for the transfer of your securities to the Foundation. Instructing the transfer agent to reissue the stock in the foundation's name often causes delay. This can especially be a problem when a year-end gift is involved, since the delay could result in a different valuation or gift date than intended. For information about gifts of stock in closely held corporations, also contact the foundation.