HOW TO DONATE STOCK TO YAD YEHUDA
In order to donate stock please first contact your brokerage firm so that they can provide you with a stock transfer form. Be sure to notify Yad Yehuda that the stock is on its way. If the shares go straight from the broker by electronic transfer, the donor’s information doesn’t always come through, and we can have a hard time trying to figure out where the stock came from.” We would also like to send you a receipt for the gift to keep in your tax files.
WHEN TO CONSIDER DONATING STOCK
Whether it makes more sense to give shares of stock or sell the stock and donate the cash depends on whether the stock has increased or decreased in value since you bought it. If its value has increased over time, it’s better to donate the stock. If you’ve owned the stock for more than a year, you get to take the current value as a charitable deduction if you itemize and you don’t have to pay tax on the appreciation (you’d owe capital-gains tax on the profit if you sold the stock first and then wrote a check). If the investment has lost value, however, it’s better to sell the stock and give the proceeds to the charity. Your deduction is still based on the current value of the stock, but you get to use the loss to offset other gains. If there’s an excess loss, you can deduct $3,000 against other kinds of income.
As Jewish communities in the Greater Washington area continue to grow, so have the number of families and individuals needing assistance. As a volunteer staffed organization, every dollar donated translates into direct assistance. Please consider making a donation of any amount.