If your financial planning involves a sale of stock, please consider Catholic Social Services.
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.
Donating appreciated shares of stock to Catholic Social Services may offer better tax savings than giving a cash gift. Transferring stock is simple. However, you should always consult your financial adviser before making gifts of stock. If the securities are held by a broker or banker, you can have the securities transferred directly to Catholic Social Services, using the information below.
Account Name: Catholic Social Services Inc.
Investment Firm: Wells Fargo Advisors
Account Number: To get this information, please call Dominic Corleto at Wells Fargo Advisors at 541-242-6536.
Then call Tricia Teasley, Chief Development & Communications Officer, at 907-250-8040 to alert CSS that a gift of stock is being made.
Catholic Social Services’ Taxpayer ID Number: 92-0037322
If you need assistance, please call:
Catholic Social Services
3710 East 20th Avenue
Anchorage, Alaska 99508