There are a variety of ways to support Bideawee. In many cases donors find that providing the organization with a gift of stock has multiple benefits. The example that follows illustrates how a gift of stock to Bideawee can benefit the donor and the organization. If you have questions regarding any donation instrument please contact the Bideawee Development group at 866-262-8133.
Cash Gift:
Frank and Estelle have been a supporters of Bideawee for years and are looking for a way to give more. They would like to make a gift of $10,000. If Frank and Estelle write a check to Bideawee for $10,000, they will receive a charitable tax deduction. If Frank and Estelle are in the income tax bracket of 35%, they will reduce their taxes by $3500 ($10,000 X 35%). The net cost of the gift to Frank and Estelle is $6500 ($10,000-$3500).
Stock Gift:
Now, instead of donating cash, Frank and Estelle decide to give $10,000 of publicly traded stock they purchased ten years ago for $2000. They will be able to claim a $10,000 charitable tax deduction, just like for the gift of cash, reducing his taxes again by $3500.
In addition, Frank and Estelle can now avoid paying capital gains tax on the $8000 long-term gain they would have had to pay had they sold the stock, rather than donating it. Assuming Frank and Estelle are in a capital gains tax bracket of 20%, they would have paid capital gains taxes of $1600 ($8000 x 20%).
By donating the stock, they eliminated the tax liability and the net cost of their gift is reduced to $4900 ($10,000 - $3,500 - $1,600).
Use Bideawee's online calculator to see how much more appreciated stock you can donate for the same after-tax cost as giving cash. It will take less than five minutes and you can affect a lifetime of change for dogs and cats in need.
Please check with your financial advisor to see how stock donations can benefit you. For more information on giving gifts of stock, please contact Bideawee's Development Group at 866-262-8133 or donate@bideawee.org.
If you would like to transfer shares of a mutual fund to Bideawee, please contact Bideawee's Development group first as every mutual fund company has different procedures.
Contact information:
Bideawee
Attn: Planned Giving Director
410 East 38th Street
New York, NY 10016
866.262.8133
FAX: 212.532.7294
