Stock or Insurance

Giving Appreciated Assets

If you have held assets like stocks or bonds for more than one year and the asset has increased in value, a charitable] gift can minimize taxes and leverage the full value of the asset.

By transferring the asset directly to a qualified charity, you may deduct the full fair market value of the asset at the time of the gift. If you wish to transfer appreciated stock or bonds, please give the institution holding your stock/bonds the following information for our IRS approved 501C3 defined benefit charity:

EIN#  20-1803239     DTC# 0015      Account # 229068701

Consider the example: Mrs. Sample purchased a block of stock for $1,000 several years ago. Today the stock is worth $2,500. If Mrs. Sample transfers the stock directly to charity, she will bypass the capital gains tax and receive a $2,500 tax deduction when she files her Form 1040 this year.

A Gift of Insurance

Many donors find that a gift of a life insurance policy is a unique way to realize charitable goals. In order to qualify as a contribution, a charity must become a beneficiary or owner on your policy. You can have multiple beneficiaries on any life insurance policy by designating a specific amount or percentage to each beneficiary. There is no immediate tax benefit for adding a charity as a beneficiary.

If you have a paid up whole life policy, you can gift the policy dividends to a charity and receive a tax deduction. You will remain the owner of the policy and could claim charitable deductions on an annual basis. However, this may reduce the death benefit amount of the policy depending on how the policy was written.

You can also transfer ownership of the policy to a charity. This change would be not be reservable. It would, however, allow you to claim a charitable deduction.

In all cases you should check with your insurance agent, tax professional or financial planner before making any changes to a life insurance policy. Most importantly, tell the charity about your donation and the details of the donation. Please contact the Executive Director for more information about these types of donations at:

By phone: 1-866-807-8965 extension 1

Online: Contact us