Your stock donation could go further than cash
You may be able to make your charitable dollars go further by donating appreciated securities, such as publicly traded stock, bonds or mutual fund shares, to a charity such as St. Jude.
There may be tax benefits when gifting appreciated stock
Appreciated securities are investments that have increased in value from the time they were purchased. Some individuals and households may be able to take advantage of IRS tax provisions to claim a charitable tax deduction for the full, fair market value of the securities, and you may avoid paying capital gains tax on the transfer.
Seek advice on tax considerations
A gift of stock made before December 31 of a calendar year may reduce your tax burden for the year you give. Your financial advisor can explain the possible tax benefits depending on whether the stock has appreciated or lost value since the time you acquired it.
Gifting stock to St. Jude
Please make sure your advisor or broker has the following wiring instructions:
DTC ID #0226 for further credit to St. Jude Children’s Research Hospital Account #003-314773 at First Horizon Advisors.
Toward the end of each year, Joe and Paulette Maslick take time together for a favorite holiday tradition. “We don’t give each other presents, we decide where we are going to donate,” Paulette says. “At our stage in life, we don’t need another trinket, but we do need to make sure we are paying forward — with gratitude in our hearts — for all that we’ve been able to achieve.”
Chicago natives who have retired to Arizona, the Maslicks embraced St. Jude as one of their favored charities about 10 years ago. Joe, a retired CFO from a family-owned food company, held an interest in medical research to save children that was rooted in a family tragedy — an older sister died of rheumatic heart fever at the age of 1. Paulette began her career as a special education teacher in Chicago before moving into the investment field.
The couple chooses to donate stock, which they consider a more tax-efficient way of giving. Joe explains, “We’re able to give the appreciated shares directly to St Jude as a gift, rather than selling the shares, paying the tax on gains and then making the gift on an after-tax basis.” With their interest in research, the Maslicks appreciate receiving updates from their personal representative about how St. Jude is accelerating progress toward cures. “Some people wait to give until after they are gone and never get to see the fruits,” Joe says. “We appreciate being able to see projects we support and the progress while we are alive.”
The Maslicks fondly recall St. Jude founder Danny Thomas rallying support, and find great meaning in furthering the lifesaving mission he established. “You want to know you are on a winning team,” Paulette says. “With institutions like St. Jude, you know the homework is done and your hard-earned dollars are being utilized in ways that can make a difference.”
Your support ensures that families never receive a bill from St. Jude for treatment, travel, housing or food — because all a family should worry about is helping their child live.
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