Using Securities (including Mutual Fund shares) to Donate To QLIA
Gifts of appreciated stock or mutual funds are a great way to give to our Lake Association. You are eligible for an income tax deduction for the full fair market value of securities you have owned more than one year—subject to the usual limitations—and capital gains taxes will be avoided on these assets.
How It Works
- You transfer appreciated stocks, bonds, or mutual fund shares you have owned for more than one year directly to QLIA.
- QLIA sells your securities and uses the proceeds to fund our mission activities.
Benefits
- You are eligible for an income tax deduction for the fair market value of the securities on the date of transfer (even if you originally paid much less for them).
- You pay no capital gains tax on the transfer or when the stock (fund) is sold.
Giving appreciated stock or mutual fund shares can be more beneficial than giving cash. The “cost” of your gift is often less than the deduction you gain by making it.
INSTRUCTIONS for transferring stock or mutual fund shares to QLIA:
To transfer your stock to QLIA you’ll need the following information:
- Your name and address (or that of donor)
- Name of stock (mutual fund) to be transferred (and Ticker Symbol if Known)
- # of shares of stock or mutual fund
- In order to receive a tax acknowledgement, QLIA must also be contacted with gift instructions and address to send a tax letter. Please ALERT US THAT YOU HAVE INITIATED A GIFT, including THE NAME (and contact info) OF YOUR BROKER OR SENDING INSTITUTION so we can follow up to ensure it arrives in our account (and so we can send you a timely receipt).
Instructions For Your Financial Institution
For instructions to give to your broker or your mutual fund company, please send us a note and we will send you the instructions.
Email: quiet_lakes@yahoo.com Attn: Treasurer
or by USPS: QLIA, P.O. Box 124, Hayward, Wisconsin 54843 (Attn: Treasurer)
PLEASE CONSULT YOUR TAX ADVISOR if you have questions about how recent tax changes impact your stock donations to QLIA; as QLIA is not providing tax or legal advice here.
The QLIA Brokerage Account is at Charles Schwab (DTC Clearing Number): To contact Schwab Asset Transfer Services call 1-602-355-9003. Ask for a help setting up a transfer of securities to the Quiet Lakes Association, Corporate Brokerage Account.
