Gifts of Stock
Thank you for your interest in supporting Eastside Community Network. Securities can be gifted to ECN in two ways; either method is acceptable, but the transfer must be initiated by your stock broker.
You can electronically transfer shares of your stock to ECN through your stock broker.
You can physically mail the paper certificates for your stocks to ECN.
benefits of gifting stock
There are many benefits to gifting a gift of securities as an alternative to a cash contribution. By contributing appreciated securities to Eastside Community Network, you make an important community contribution while gaining valuable tax advantages. If you have owned securities for a year and a day, your contribution can offer the following benefits:
1. Eliminates Capital Gains Tax
By donating your appreciated securities, you avoid the capital gains tax you would owe if you sold the securities yourself.
2. Enjoy a Timely Tax Break
At the of December, when tax breaks and timing are critical, securities can be deducted on the date you transfer them.
3. Claim the Market Value
By claiming the market value (versus the cost basis) of the securities, you enjoy a charitable contribution tax deduction equal to the average of the highest and lowest quoted sales price on the day you make the gift.
Questions? Please don't hesitate to contact our Events & Community Relations Manager - Mary Madigan - for more information.
Phone: (313) 331-3714