Making Gifts of Stocks and Securities to the Catskill Center
Did you know that you may be able to decrease your tax burden by donating stock or other securities to the Catskill Center? This is because when donating appreciated stock, you not only get a tax deduction for the amount of the current value of your shares, but you also avoid paying taxes on the capital gains on the appreciation of those shares in the future. Additionally, you pay no brokerage fees or sales commissions and it may even help prevent paying any alternative minimum tax.
If your stocks that have decreased in value from your original purchase price, however, you should consider selling them and making a monetary contribution to Catskill Center so that you can take a capital loss deduction on your tax return and still receive the tax deduction for the full amount of your donation.
How to Donate Stocks and Securities
If your shares are held in “street name” at a brokerage just call the Catskill Center's Susan Blake at 845-586-2611 and after obtaining some basic information from you (including approximate number of shares and the date the stock was acquired) we’ll send you a short form to complete and return and that’s it.
If you are in possession of stock certificates, mail the unendorsed certificates to:
Attn: Susan Blake
PO Box 504, 43355 Route 28
Arkville, NY 12406
In a separate envelope, send a signed stock power (available from your financial institution), to the same address. Both envelopes should be postmarked on the same date as that will determine the date of the gift.
For more information on the benefits of such gifts or to discuss the transfer of securities in more detail, please speak to your financial advisor or contact the Catskill Center at 845-586-2611.