Introducing Stock Gifting
Did you know stock gifting is the most tax-friendly ways to support nonprofits? When you donate stock, you may avoid the tax on the gain while deducting 100% of the value of the contribution. Moreover, when you donate stock rather than selling it, nonprofits get to keep the proceeds that would have gone to pay taxes - it’s a win-win for everyone!
Best of all, it’s fast, safe and free to donate stock. So, remember, charitable giving doesn’t always mean cash. By gifting stock, you can have greater impact — without denting your pocketbook.
Disclaimer: This information is provided for educational purposes only and is not intended to serve as legal, tax, or investment advice. Please consult with a professional tax advisor.
Benefits of Stock Gifting
- Unmatched Tax Benefits: by donating appreciated stock, you may avoid paying capital gains tax while deducting the full fair market value of the gifted stock held more than 12 months.
- Greater impact: by donating stock (rather than selling stock and donating after-tax proceeds), nonprofits keep the proceeds that would have otherwise gone to pay capital gains tax.
- Alignment with Values: donating appreciated stock demonstrates an investment that aligns your financial interests to your philanthropic goals. By donating stock, you’re sharing your wealth, not your income.
- It’s fast, safe and free. While stock gifting used to be a painstaking manual process, you can initiate your first stock gift online in 5-7 minutes at no cost.
How do I donate Crypto?
Is my Crypto Donation Tax Deductible?
Yes! Your crypto donation is tax deductible. Meals on Wheels North Central Texas offers supporters who want to donate their cryptocurrency the ability to give tax-efficiently.
The IRS classifies cryptocurrency donations as property, meaning they are not subject to capital gains tax and are tax-deductible. Your contributions are tax-deductible to the fullest extent permitted by law.
*Please consult your tax advisor or financial planner to determine your tax benefits.
What are the benefits?
The IRS classifies cryptocurrency donations as property, meaning they are not subject to capital gains tax on the appreciated amount and are tax-deductible. Cryptocurrency donations to registered charities are tax-deductible and can often reduce your tax burden.
Can I donate anonymously and still receive a tax receipt?
Yes. Donors who wish to give anonymously can supply an email address during the donation process where they will receive their automatic tax receipt.
Support Our Mission Through Donor-Advised Fund (DAF) Grants
What is a Donor-Advised Fund (DAF)?
A Donor-Advised Fund (DAF) is a charitable giving vehicle that allows donors to recommend grants to nonprofits like ours. If you have a DAF, you can easily support our work by making a grant from your fund directly to our organization.
Why Give Via a DAF?
DAFs offer a flexible and tax-efficient way for donors to invest in causes they care about. By making a grant to us through your DAF, you help us accelerate our programs and impact.
How it works:
- Click the EasyDAF button and provide a few details about your grant
- We’ll arm you with our Tax ID number to ensure your donation reaches us seamlessly
- We’ll direct you to your DAF login page.
- You’ll log in to your DAF and search the directory of nonprofits using our Tax ID number
- Your DAF will send the grant payment directly to us
Questions?
If you need assistance or want to learn more about supporting us with your Donor-Advised Fund, please contact our Major Gifts Officer, Val, at val@mownct.org