By donating the stock (or mutual fund shares) that you held for more than one year to the Foundation for Accelerated Vascular Research, you receive the following benefits:
- You are entitled to a charitable income tax deduction for the fair market value of the gifted securities as of the date of the gift.
- You can eliminated the capital gains tax that you would have incurred if you sold the appreciated securities on the open market and then donated the proceeds to FAVR
- You can claim your charitable deduction against up to 30% of your adjusted gross income, and you can carry forward any unused deduction over the next 5 years.
In short, the present tax laws create a WIN-WIN situation. Donors of stock to FAVR receive significant tax advantages, and FAVR receives essential support for urgent research work. Stock donations made prior to December 31 will qualify as current year income tax deductions. Please consult your financial advisor before giving a charitable gift.
Before making a donatin of securities to FAVR, please contact Wells Fargo Private Bank at 800-352-3705. Wells Fargo Private Bank will outline what procedures to follow to ensure the proper accounting for and administration of a donation of securities to FAVR.
Note: FAVR's tax ID number is 94-2825216.
