Taxes are often owed when stocks and securities gain in value, but that may be avoidable by donating the stock to a nonprofit. You potentially eliminate the capital gains tax you would incur if you sold the assets yourself and donated the proceeds, which may increase the amount available for charity by up to 20%. You may claim a fair market value charitable deduction for the tax year in which the gift is made and may choose to pass on those savings in the form of more giving.
Contact Paul Stratton (below) for questions and information, and to notify him of the intended transfer to LifeSpark. You will need to have the following information; your name, transfer date, stock name and number of shares, and any other relevant information.
Paul Stratton Financial Advisor at Edward Jones
(303) 366-6375
Our legal name is Healing Buddies, Inc (LifeSpark Cancer Resources is our Doing Business As name). Our Tax Identification Number is 33-1114811. LifeSpark is a 501(c)3 nonprofit organization and donations are tax-exempt. Candid (formerly GuideStar) has awarded LifeSpark the Platinum Transparency award, the highest level for charities.
Our legal name is Healing Buddies, Inc (LifeSpark Cancer Resources is our Doing Business As name). Our Tax Identification Number is 33-1114811. LifeSpark is a 501(c)3 nonprofit organization and donations are tax-exempt. Candid (formerly GuideStar) has awarded LifeSpark the Platinum Transparency award, the highest level for charities.