Stocks
If you own stocks that have increased in value since their purchase, you can benefit by using them to make a charitable gift to Mercy Airlift. You can deduct the fair market value of the securities (held for at least one year and a day) and pay no capital gains tax.
If you own stock that has decreased in value since you purchased it, you can sell the stock and claim it as a “loss” for income tax purposes. By giving the cash proceeds to Mercy Airlift, you receive an income tax deduction.
Physical Transfer: If you are in possession of a stock certificate, you will need to sign a stock power for each stock certificate you transfer to Mercy Airlift. If the stock certificate is registered in two names, both individuals need to sign the stock power and the stock power must be signature guaranteed.
Sign the stock power exactly as it is on the face of the certificate and mail it to The Office of Planned Giving, Mercy Airlift, . Please mail the stock power and stock certificate in separate envelopes for purposes of security. Upon receipt, your gift will be acknowledged for tax purposes.
Giving a Gift of Mutual Funds
The transfer of mutual fund assets is usually done electronically, and most mutual fund companies have their own guidelines for transferring their funds. Upon your instructions, your mutual fund’s agent will transfer the shares to Mercy Airlift.
For tax purposes, a mutual fund is not considered a gift until it has been transferred out of your name and into the name of Mercy Airlift. This is important, as the actual date of the transfer into Mercy Airlift’s account determines the completion, value, and deduction of the gift for tax reporting purposes.
Important: Whether you are electronically transferring stock, mailing a stock certificate or giving a mutual fund gift, please let us know. Knowledge of your gift allows us to track its progress, disburse your gift correctly and provide you with an acknowledgement letter for your tax records.
Please contact Mercy Airlift for more information.