The Elijah Challenge accepts gifts of donated
stocks, bonds, and mutual
funds. Donors in the United States can receive three kinds of tax
benefits by donating appreciated securities:
- Avoid capital gains tax on the gifted investment.
- Receive a charitable deduction which offsets adjusted gross
income.
- The value of your estate is reduced which can reduce estate
taxes.
The Elijah Challenge has an investment account at a discount broker
for the purpose of receiving, investing and selling donated
securities. For
more information about making a donation of securities,
please contact the financial advisor for our investment account,
Lawrence
Boyles of
Retirement Specialists.
Lawrence may be reached in the USA at (281) 486-9800. Or you may
contact us.
Gifts of Investments that have Declined in Value
If you have investments that have declined in value over the years and
are interested in donating them to The Elijah Challenge, it is usually
more advantageous to sell the securities first and contribute the proceeds
as opposed to donating the securities outright. This strategy should
allow you to claim a deduction for both the capital loss from the sale
of the securities, and the charitable contribution. Call Lawrence Boyles
if you need assistance with this.