Stock or Mutual Funds
Appreciated securities allow you to give away the security to LCFS and usually avoid the income tax on the gain. As with most income tax matters, there are certain limitations set within the Internal Revenue Code.
The basic limitations are:
- Gifts of appreciated securities are deductible up to thirty percent (30%) of your adjusted gross income. You may carry forward this deduction for up to five years.
- You must have owned the appreciated security for a long term holding period, usually twelve months or longer.
- Within limitations, you may choose to qualify for the fifty percent (50%) deduction of your adjusted gross income by reducing the full value of your appreciated gift to its costs basis.
If you wish to make a donation to LCFS and you own shares of common stock, it may be advantageous to you to donate stock in addition to, or in place of cash.
Your donated stock will be sold for current market price.
Firm Information A.G. Edwards & Sons, Inc.
Contact: Mr. Karl Roth
Telephone: 800.695.4595
DTC: 0201
Customer Name: Lutheran Child & Family Service of Michigan
Account Number: 41733387
LCFS Contact: Dawn White, (989) 686-7650 Ext. 1006
Dwhite@lcfsmi.org