Make a Gift of Stock
If you own stock, it is sometimes "tax wise" to contribute stock rather than cash. A gift of appreciated stock generally offers a twofold tax advantage:
1. You avoid paying capital gains tax on the increased value of the stock.
2. You receive an income-tax deduction for the full fair-market value of the stock at the time of the gift.
For example, if you purchased some stock many years ago for $1,000, and it is now worth $10,000, an outright gift of the stock would result in a charitable deduction of $10,000. In addition, there is no tax on the $9,000 appreciation in value.
If you have owned stock for a "long-term" period of time, more than a year, you qualify for these significant tax advantages. Your gift must be postmarked by December 31 to qualify for a deduction in that tax year. A stockbroker or trust officer also can arrange for a year-end gift of stock from your account.
More Information About Making a Gift of Securities
It's easy to make a gift of stock to Mother Jones via the Foundation for National Progress. Here are two ways:
Ask your broker to transfer the shares to the FNP. The transfer should be encoded as follows:
Schwab One Account
Foundation for National Progress, dba Mother Jones Magazine
Tax ID #: 94-2282759
Account #: 4176-1072
DTC Clearing 0164, Code 40
If you hold the stock certificate, send it unendorsed in an envelope to:
Foundation for National Progress
Attn: Chief Financial Officer
222 Sutter Street
San Francisco, CA 94108
In a separate envelope to the same address, send a signed, but otherwise blank, stock power form.
In addition, to ensure that you are properly credited and acknowledged for your gift, it is helpful if you or your broker contact the FNP at (415) 321-1700 to let us know a transfer is taking place. You may also use the form here to contact us.