Your stocks might get pulses racing on Wall Street. But on Russell Road, they can keep hearts beating, tails wagging and purrs rumbling.
Gifts of appreciated stock support urgent and routine medical care for pets in need in the Connecticut Humane Society’s veterinary department. It’s a donation option that’s on the rise and puts homeless pets on a path toward a brighter future.
“Contributions of stock and securities are fast, easy, and have some distinct tax advantages. Best of all, I’m able to make a more significant gift without impacting my current cash flow!” said C. Burchill, a longtime CHS donor.
Gifts of appreciated stock offer two tax advantages. First, you avoid paying capital gains tax on the value a stock gained over time, and you receive an income-tax deduction for the full fair-market value of the stock at the time you gift it to CHS pets.
Here’s how it works: If you purchased stock for $2,000 more than a year ago, and it’s now worth $20,000, an outright gift of that entire stock would result in a charitable tax deduction of $20,000, and there would be no tax on the $18,000 appreciated value.
Contact CHS at 860-594-4502, ext. 6324, or firstname.lastname@example.org to receive CHS’ account numbers for the transfer. Then your stockbroker or trust officer will arrange for a gift of stock from your account.
CHS is also accepting gifts from donor-advised funds. Simply call your fund manager and authorize a grant check to go to the pets. It can be mailed directly to CHS at 701 Russell Road, Newington, CT 06111. If you have a specific area where you’d like your grant to be applied, contact us at 860-594-4502, ext. 6328, or email@example.com