Donate STOCK

Donate Stock: How a Gift of Stock Can Be Mutually Beneficial

Do you own stock that’s increased in value since its purchase? If you have owned the stock for at least one year, there is a unique opportunity for philanthropy.

When someone donates securities to Safe Place and Rape Crisis Center (SPARCC), they receive the same income tax savings (if they itemize) as if they wrote SPARCC a check directly, but with the added benefit of eliminating capital gains tax on the transfer.

How does it work? Making a gift of securities to support our mission is as easy as instructing a broker to transfer the shares.
A stock purchased more than one year ago for $10,000, which has appreciated to $25,000 today, would trigger $2,250 in capital gains tax if sold ($15,000 X .15 capital gains tax rate). On the other hand, donating the stocks to SPARCC would generate a $25,000 income tax charitable deduction, and $0 capital gains tax.

Using assets other than cash also allows for more flexibility when making a planned gift – which, with your consent and acknowledgement, would also make you a SPARCC Legacy Society member. For example, if you aren’t ready to give up these assets during your lifetime, a gift of securities through a will or living trust allows the flexibility for the donor to change their minds at any time and continue to receive dividends and participate in shareholder votes; the securities are still the property of the owner if needed for other expenses.

SPARCC’s Vice President of Finance & Administration, Melissa Smith, is available to work with your financial advisor to help you donate now or plan for tomorrow, and receive maximum benefits today.

How to Take the Next Step

For more information on donating stock to SPARCC, please contact SPARCC Vice President of Philanthropy, MaryEllen Mancini, mmancini@sparcc.net or (941) 365-0208 x106.

This information is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact individual results.

Helpful information when making a stock donation to SPARCC:

DTC#: 0226
Broker: National Financial Services
Account #: NT2-044911
Account listed: Safe Place And Rape Crisis Center, Inc of Sarasota

SPARCC’’s account is located at:
Northern Trust
1515 Ringling Boulevard, Sarasota, FL. 34230

Current Contacts:
Sheryl Nessel Cruz | Vice President (941)329-2696

Please be sure to email SPARCC Vice President of Finance & Administration, Melissa Smith, msmith@sparcc.net, to let her know of when a stock donation is coming into our security account so she can sell the stock at the current rate.