JoshProvides has established an account at Charles Schwab. Individuals and corporate donors, as well as, most trusts are able to make donations to JoshProvides by transferring publicly traded securities (i.e. stocks, bonds, mutual funds, etc.) that have material, long term capital gains directly from their investment account. When JoshProvides receives the securities, the securities are sold immediately and the cash is available to JoshProvides for its charitable purposes. While you should check with your accountant, there are some great benefits to donating securities to JoshProvides in this manner:
- JoshProvides receives the securities at today’s market value, regardless of how much you paid for the securities, less trading costs;
- Your original investment is considerably less than what you are donating;
- You are able to deduct the full market value of the contribution on your federal income tax return (except in limited circumstances which your accountant can discuss with you); and
- You do not pay any capital gains tax, since you are not selling the security.
Giving is easy. Before making a donation of securities, you must consult your own tax advisor to determine what is best for you. Simply tell your investment advisor to deliver the securities you wish to donate to JoshProvides to our Charles Schwab account as follows:
Charles Schwab & Co.
DTC Instructions: DTC Clearing Corp: 0164 / Code 40
For Credit to JoshProvides Epilepsy Assistance Foundation, Inc.
Account Number: 8812-5276
If you make a contribution using appreciated securities, email Bruce P. Chapnick, Executive Director, at email@example.com with the following information:
- Your full name;
- Your mailing address;
- Your telephone number;
- Your email address;
- The name of the security and how many shares/units were donated; and
- The date of the contribution.