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Stocks, bonds, mutual funds, and real estate that have risen in value since purchase can be used to make charitable gifts. Some donors find it in their best interest to make gifts of these assets to avoid capital gains taxes. Ask your financial advisor to determine what benefits a gift of this nature could provide. You may also call the Montgomery Hospital Foundation at (610) 270-2212 for more information.
Gifts of Stock
If you own stock, it is often more tax-wise to contribute stock than cash to avoid paying any capital gains tax on the increase in the value of the stock. Second, you receive an income tax deduction for the full market value of the stock at the time of the gift.
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Example: If you purchased some stock many years ago for only $1,000 and it is now worth $10,000, an outright gift of the stock to Montgomery Hospital Medical Center would result in a charitable contribution deduction of $10,000. In addition, there is no tax on the $9,000 appreciation in value. |
Stock must be held for a period of time (generally for more than one year) to qualify for this tax advantage. Gifts of appreciated stock are fully deductible up to a maximum of 30% of your adjusted gross income. Any excess can generally be carried forward and deducted over as many as five subsequent years.
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To make a gift of stock electronically, send to:
PNC Bank DTC #2616
Account #: 21350010182155 |
Send fax confirmation of transaction with:
1. Name and address of donor.
2. Name and number of shares.
3. Your broker's name and DTC number.
Fax to Lise Twiford: (610) 313-4772
To process by mail, send shares endorsed to the Montgomery Hospital Foundation, the fundraising office for Montgomery Hospital Medical Center, via certified mail; and under separate cover, send stock power endorsed to the Foundation. Mail to:
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Montgomery Hospital Foundation
1301 Powell Street
Norristown, PA 19401 |
Gifts will be credited at the mid-point share value the day they are received by the Foundation. Please direct questions to 610-270-2212.
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