Stock Gift Benefits:
- avoid paying capital gains tax
- receive a charitable income tax deduction
- enjoy possible increased income
- further our mission and be the difference in a patient’s life today!
Although you probably don’t give out of getting tax benefits, if you make a gift of stock through appreciated assets you’ll get the added bonus taking a tax deduction for the FULL value of the stock. Plus, you are not liable for tax on the capital gain being given.
It is important that you transfer the stock directly to JRMC Foundation. For example, if you have $10,000 in stock that you bought for $2,000 and YOU sell the stock and donate the proceeds, you’ll owe taxes from the sale.
If you instead donate the stock, you’ll still get the same tax deduction for the donation — and now you’ll also avoid having to pay taxes on the stock sale. JRMC Foundation will still get the full donation — because it pays no taxes when selling the stock.
BASIC INSTRUCTIONS
If you plan to make a year-end gift, we recommend beginning the process by mid-November so as to allow four to six weeks for the transaction.
To make your gift, and to ensure that you receive proper acknowledgement and documentation, please refer to instructions on transferring the following types of assets:
Securities Held by a Bank or Broker
It is important that you notify JRMC Foundation before making a gift of securities currently held by a bank or broker. Without this notice, your gift may be transferred to us without our knowledge of your identity. This makes it difficult to provide you with proper credit and timely acknowledgement for your gift.
We recommend that you consult your tax advisor for more information regarding the gift tax and income tax results of such gifts as they apply to your specific situation. JRMC Foundation does not provide donors with individual tax advice.
Stock Certificates You Hold
You can deliver stock certificates that you hold either by mail or in person.
Delivery by Mail
Send your un-endorsed securities by registered mail to:
JRMC Foundation
2422 20th Street SW
Jamestown, ND 58401-6201
In a separate envelope, send to the above address, by regular mail:
- a StockBondPowerForm for each security a note giving your name, address and phone number
- the name of the fund to be credited OR the purpose of the gift
Sign the forms exactly as the name or names appear on the security. The signatures should be guaranteed by a bank or broker so that transfer requirements can be met later.
Mail both envelopes on the same day. The date of delivery for gift credit purposes will be determined by the postmarks.
Delivery in Person
To personally deliver your securities to JRMC Foundation, stop in to our office or make an appointment. You can meet with Lisa Jackson, Foundation Director, at your home, office or other specified location. Please call her at (701) 253-4806. The date of the gift for gift credit purposes will be the date upon which personal delivery occurs if the securities are fully assigned.
Mutual Fund Shares
The benefits of giving shares of mutual funds are similar to those of giving appreciated securities, but the process takes a little longer.
Charitable Gift Annuity
gifts that pay you income
You can feel confident that you have dependable income in your retirement years and make a gift to JRMC Foundation. This is possible with a Charitable Gift Annuity.
You can also receive a variety of tax benefits, including a federal income tax charitable deduction.
Gifts That Pay
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and discuss them with your advisor as well as our professional staff at the Foundation.
An Example of How It Works
John, 66, and Sue, 65, want to contribute to JRMC Foundation, but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity.
Based on their ages, they will receive a payment rate of 4.3 percent, which means that they will receive $860 each year for the remainder of their lives. They are also eligible for a federal income tax charitable deduction of $5,544* when they itemize. Finally, they know that after their lifetimes, the remaining amount will support the mission at JRMC.
*Based on annual payments and a 2.4 percent charitable midterm federal rate. Deductions vary based on income earned.
For more information, please contact JRMC Foundation at (701) 952-4880.