Gifts of Stock
Donors can use their own broker/agent to transfer stock. If the stock has been held long-term (over one year), the donor does not have to pay capital gains tax on the stock and is allowed a tax deduction for the full value of the stock. Donors may also choose to donate stock in order to claim a loss, which may be beneficial for tax circumstances. In either case, the stock must first be transferred to UGM-TC before being liquidated.
Gifts From Retirement Accounts
The 2010 Relief Act permits individuals age 70.5 or older to contribute up to $100,000 from a qualifying retirement account directly to a qualifying charity without recognizing the assets transferred to the charity as income. Please contact your financial advisor for additional information concerning your retirement accounts.