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 at +1 (281) 486-9800 or at [email protected].
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.