**Please ask your broker to contact Mandy Gibson ext. 700, email@example.com, before transferring any securities. This will ensure that our broker is aware of your gift and is actively looking for it.
Some members choose to support the Groundwork Center by donating gifts of appreciated securities. In addition to providing crucial financial support for communication and advocacy, you can save capital gains tax.
You can donate securities directly from your brokerage account or, by transferring stock certificates or Stock held through your broker.
In order to retain the tax benefits for yourself, do not sell appreciated shares! If you sell the shares to contribute cash the IRS will tax you on the capital gains leaving you with a tax liability and less to give. Conversely, if the shares you are donating have decreased in value from your original cost you should consider selling the stock and donating the cash. This way you can take a capital loss deduction on your income tax and a charitable deduction for the full amount of the donation.
To contribute by transferring stock certificates, you need a stock power for each one you plan to donate. These stock powers must be signature guaranteed. Your local bank or broker can witness your signature and stamp it accordingly.
Once you have signed the powers (do not sign the back of the certificates), mail the certificates in one envelope and signed stock powers with the signature guarantee in a separate envelope. Then mail both envelopes to:
148 E. Front St., Suite 301, Traverse City, MI 49684-5725
NOTE: We recommend use of certified mail with return receipt.
We make it as simple as possible for you to transfer stock through your broker to the Groundwork Center. You can simply contact Amy MacKay, development director, at 231-941-6584 ext. 704, for the information.