Many of our supporters find that making this kind of gift to Skagit Land Trust is a smart and simple way to help conserve land here in the Skagit. Donating appreciated stocks, bonds or other assets instead of cash avoids capital gains taxes regardless of whether or not a donor itemizes.
For example, if you donate a stock that has increased in value since you bought it more than a year ago – and if you itemize deductions — you can take a charitable deduction for the stock’s fair market value on the day you give it away. You will also avoid capital-gains taxes on the increase in value over time, which you would have had to pay if you sold the stock and then gave the charity the cash proceeds. You can deduct the fair market value only if you hold the stock for more than a year before giving it away. You may also immediately buy identical stocks, bonds or other assets to replace the donated ones.
If you are interested in making this kind of gift, please call our office at 360-428-7878 x202 or email info@skagitlandtrust.org, and ask for our Stock Donation Instruction Sheet. You will want to speak with your brokerage firm about the procedure and time frame for giving stock. Most banks and brokerage firms require a letter of instruction or letter of authorization to transfer the shares to charity, and a mutual fund company may have a special form.
Please let us know if you have initiated this process so we can alert our investment advisor that the stock will arrive in our account. We will then send you a charitable tax receipt for the day it arrives.
Address: Skagit Land Trust, 1020 S 3rd Street, PO Box 1017, Mount Vernon, WA 98273
EIN # for Skagit Land Trust: 91-1533402