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Donating stock or mutual funds is a tax-wise method of making a lasting contribution to SMYAL. These gifts can help ensure that SMYAL's doors remain open for youth in need of support, while also providing you with considerable tax benefits:
Income Tax Savings
By giving appreciated securities, you can take an income tax charitable deduction equal to the full fair market value of the security on the date it was given. Your deduction is available for the year you made the gift. As an added benefit, if you cannot take the entire deduction in the first year, there is a five-year carry-over for any excess.
Capital Gain Tax Savings
By donating appreciated securities, you can avoid capital gain taxes, which you would have incurred if you had sold the security. As a result, the full value of your shares will be used to support SMYAL's mission.
If you purchased $5,000 worth of "YouthRock" Stock, and it is now worth $10,000, you can make a $10,000 gift to SMYAL and realize the tax savings. You may take a $10,000 charitable donation deduction on your federal income taxes, saving $2,800 in federal income tax, and avoiding a capital gain tax of $1,000.
To make a gift of securities held by you, mail or hand-deliver the certificate.
In a separate envelope, mail or deliver to the address above a signed, blank stock or bond power for each security being sent. You may obtain blank powers from the Gift & Legacy Planning program, your broker or your bank. Sign the power exactly as your name appears on the certificate or bond.
Please enclose a letter stating the purpose of your gift.
NOTE: If you are delivering stock by mail, we recommend that the stock certificate be sent by certified mail with return receipt.
If the securities are held by your broker, your gift can be electronically
transferred to SMYAL's account at PaineWebber, Inc.*, Account
WS-12263-29, DTC# 0221. When transferring stocks to this account,
complete the Electronic Funds Transfer Form and mail or fax to
Andrew Barnett, Operations & Communications Manager, at
202-544-1306.
*Publication of this account number does not constitute an endorsement of PaineWebber or of its products and services.
Another option is to inform your broker that you would like to donate securities to SMYAL. Your banker or broker should contact Andrew Barnett, Operations & Communications Manager, at 202-546-5940 x110, to provide the details of the gift.
Please see our gift description summary to see an overview of
the benefits for this and other planned gifts. You may E-mail
any questions about donating stock to andrew.barnett@smyal.org
"They came and picked up my car this weekend.....I only have good things to say about the people who picked up the car. Thanks for making it so easy!" ---Sincerely, John Shipp
Interested in donating your car to charity? Donate it to SMYAL!
You may deduct the full fair market value of your vehicle on your
taxes. And SMYAL receives 70% of the proceeds from the sale of
your vehicle on the wholesale market! SMYAL uses a third party
car donation company to manage the whole donation process. And
that means it's an easy, low-cost, and hassle-free way for you
to invest in today's gay and lesbian youth! It's a win-win situation.
If you have any further questions about donating your car, please
call Andrew Barnett at 202-546-5940 x110.
Download Vehicle Donation Form Here!
SMYAL is not currently accepting donations of furniture or clothes. However, Sasha Bruce Youthwork, an agency that serves homeless youth (including sexual minority youth), is accepting furniture and clothing. Their phone number is 202-675-9340; ask for Ms. Jackson.
SMYAL is accepting in-kind donations of:
Gift certificates for food and clothing.
For questions regarding donations, contact:
Kelly Simon
Director of Development
202.546.5940 ext. 109
kelly.simon@smyal.org
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