There are distinct income tax advantages of giving securities over cash, and the benefits are twofold: you will receive a deduction for the fair market value of the stock (up to 30% of your adjusted gross income), and capital gains taxes do not apply. And with the 2015 capital gains tax rates at their highest since 1997, charitable gifts of appreciated securities make sense now more than ever.
Outright gifts of appreciated securities (stocks, bonds, mutual fund shares) to Maine Public are tax deductible at full fair-market value if they are long-term in nature (owned for more than 12 months). To avoid capital gains taxes, you must donate the actual securities, not the proceeds of their sale. You can completely avoid capital gain tax that you would owe on the difference between the cost basis and the price at which the asset is sold.
To take advantage of this tax-wise way to support Maine Public, please contact your broker with the following information:
To donate DTC-eligible securities please contact:
Beverly Veilleux at Bangor Savings Bank
DTC Eligible Securities (Stock)
Participant ID (DTC #): 2039
Bangor Savings Bank A/C # DTC: 11222
Client Name: Maine Public Broadcasting
Client A/C #: #669-140010
Federal Eligible Securities (Bonds)
FRB Name: U.S. Bank N.A. Trust
Third Party: 1050/Trust
For SEI Account: 001050985490
FFC: Maine Public Broadcasting #669-140010
Please contact SEI at 1-610-676-4415 for delivery instructions
For additional information, please contact:
Chief Development Officer
This information is for informational purposes only and should not be construed as tax or legal advice. Maine Public does not offer financial advice. We recommend reviewing any gift plan with your personal advisors.