Appreciated securities provide greater benefits to you and help improve lives today and build a better tomorrow.
Those who donate stock to Greater Gallatin United Way enjoy numerous benefits, including:
- Claiming the market value of the securities as a tax-deductible contribution (as opposed to the cost basis).
- Avoiding capital gains tax, local and state taxes on the profit from the sale of securities.
How to donate stock:
- Go through your own broker
- Contact Greater Gallatin United Way to have a donation/pledge form completed for you over the phone
- Fax/mail a Stock Transfer Authorization letter to your broker and to Greater Gallatin United Way. Notifying Greater Gallatin United Way of any transaction will ensure that your gift will be processed expediently. Please use this sample letter.
- In order to avoid the capital gains tax, donors must give the stock directly to Greater Gallatin United Way. Greater Gallatin United Way uses Schwab as a brokerage, which charges a minimal fee of $5 for each stock trade. Greater Gallatin United Way’s policy is to sell stock immediately upon receipt.
- In order to avoid capital gains taxes, the stock must be received in Greater Gallatin United Way's Swchab account and then sold.
- Stock must be transferred and received in the Greater Gallatin United Way Schwab stock account no later than end of market day on December 31 to be credited for the current tax year.
- Please note that timing of a stock transfer has many variables and can take more than one week from when stock is transferred to when proceeds are delivered to Greater Gallatin United Way’s account. Please work with your Donor Relations Manager to ensure a timely transaction.
Questions? Contact, Marjorie Seymour, Director of Development, 406.587.2194.