Stock Donations
Now, you have an ANOTHER OPTION (with added benefits) when it comes to giving your support to Christ for all Nations...it's the gift of Appreciated Stock. When you give Appreciated Stock...you may deduct the entire current value of stock you give to the ministry... not just the amount you originally paid for it... but the stock market's value of your stock today. Keep reading below to see if this is a good choice for you.
When you give Appreciated Stock to Christ for all Nations, you're donating the stock to a qualified non-profit, you pay nothing in capital gains tax (for assets held for more than a year).
When you give Appreciated Stock...your accountant will be happy, because by reducing your appreciated stock portfolio, you reduce your gross income...which in many cases equals a reduction in taxes.
When you give Appreciated Stock...you will not only appreciate the tax advantages...but Christ for all Nations will greatly appreciate your continued support.
What are the Tax Advantages?
Federal Tax Advantages
By making a gift of long-term appreciated securities to CHRIST FOR ALL NATIONS, you can avoid the capital gains tax that would be incurred if you sold the securities. A gift of securities also entitles itemizers to take an income tax charitable deduction equal to the fair market value of the securities at the time of the gift. In order to avoid the capital gains tax, it is necessary to transfer appreciated securities directly to CHRIST FOR ALL NATIONS rather than to sell them and contribute the net proceeds.
Valuation
CHRIST FOR ALL NATIONS will value your publicly traded securities for credit to the purpose for which they are given. The valuation of publicly traded securities will be the mean market value as of the day that the securities pass from your control. When short-term appreciated securities (appreciated securities held less than one year) are given, your income tax charitable deduction is usually your original cost. If your short-term securities have depreciated, your deduction is limited to the fair market value of the securities.
If quotations are not readily available, such as for the closely held stock, a qualified appraisal will be required when the value claimed exceeds $10,000.
IRS rules require you to report on Form 8283 all gifts of securities with a value over $500 in order to obtain the charitable income tax deduction.
