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Give a Gift of Stock
A gift of appreciated securities is one of the wisest gifts you can make in terms of tax savings. And with tax rate cuts expected in 2017, it could be especially beneficial to do so before Dec. 31, 2016.
The best method of transferring these assets is to contact your broker and electronically transfer the stock from your account to the Independent Institute’s account at Wells Fargo Advisors. Avoid selling the assets and then making a gift of the proceeds, because this will trigger a capital gains liability for you.
In order for the Independent Institute to acknowledge your gift and provide you with an IRS receipt, please take the following steps:
Gifts from Your IRA
If you are at least age 70½, you can take advantage of tax savings by making a qualified charitable distribution (QCD) from your IRA.
A QCD (also known as an IRA Charitable Rollover) is an otherwise taxable distribution from an IRA (other than an ongoing SEP or SIMPLE IRA) owned by an individual who is age 70½ or over that is paid directly from the IRA to the Independent Institute or other qualified charity.
The Institute has a Memorandum of Instruction (PDF) that you may provide your IRA custodian in order to make the distribution to us. Please also let us know that you are making an IRA distribution to the Independent Institute, by calling (510) 632-1366, ext. 152, or by email.
As with all decisions involving tax consequences, please consult with your own tax professional.