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Appreciated Stock Donation

Why donate appreciated securities to Suburban Temple - Kol Ami?

  • You receive a tax deduction for the full current market value of the donated stock.
  • You may not incur capital gains tax.
  • You are doing a mitzvah by giving to STKA.
  • When you make a cash gift, the gift is a tax deduction on your federal and state tax return assuming you itemize your deductions. An even greater tax savings can be realized if you donate appreciated securities. (The stock must have been held for more than one year and one day.)

Please consult your tax advisor regarding your specific legal and tax situation.

Transferring stock to Suburban Temple-Kol Ami:

  • In order to record such gifts, we need the following:

  • Name of the donor

  • Intended use for the funds (Open Doors payments, Endowment gift, other)
  • Company name, stock classification and number of shares
  • Date of the stock transfer
  • This information must be supplied to Brett Shankman, Executive Director, by mail, e-mail (bshankman@suburbantemple.org) or fax (216.991.0705).

    Send the wire transfer to:

                Wells Fargo Advisors

                First Clearing Corp.

                30100 Chagrin Blvd., Suite 200

                Pepper Pike, OH  44124

                 DTC #0141

     

    For deposit to:

                Suburban Temple-Kol Ami

                Account #7627-3547 for Dues Payments

                Account #7627-3571 for Endowment and Capital Pledge Payments

     

    Please ask your broker to notify Mitch Frankel at 216.378.2761 when the transfer order is placed, verifying the date of the transfer and, if possible, the value per share.

     

     

    Remember:  a gift of appreciated stock can satisfy your donation to the Temple and avoid a taxable capital gain should you be required to sell the stock shares to fulfill your obligation.


 

 

Fri, August 17 2018 6 Elul 5778