Give Stock for Double Tax Benefit
Donating appreciated securities, including stocks, bonds or mutual funds is an easy and tax-effective way for you to make a gift to Summa Health. In addition to receiving a charitable tax deduction for the market value of the stock, you also avoid capital gains taxes providing a DOUBLE BENEFIT.
You must wire transfer stock directly from your account to Summa Foundation's account to receive the tax benefits. For details on transferring a stock or security, please call 330-375-3159.
Please let us know about your gift so that we can record it properly when it arrives. Call Barbara Boyce at 330-375-6356 or email [email protected]
Benefits of gifts of stocks and bonds
- You avoid paying capital gains tax on the sale of appreciated stock.
- You receive a charitable income tax deduction.
- You advance the mission of Summa Health.
How to make a gift of stocks and bonds
By electronic transfer - Please contact us for instructions on how you can transfer stock or bonds from your brokerage or investment account to Summa Health.
By certified mail - If you hold securities in certificate form, you will need to mail two envelopes separately to complete your gift. In the first envelope, place the unsigned stock certificate(s). In the other envelope, place a signed stock power for each certificate. You may obtain the necessary form(s) from your broker or bank. Please remember to use certified mail.
More on gifts of stocks and bonds
There are special rules for valuing a gift of stock. The value of a charitable gift of stock is determined by taking the mean between the high and low stock price on the date of the gift. Mutual fund shares are valued using the closing price for the fund on the date of the gift.
Contact us
If you would like more information about gifts of stocks and bonds, please contact us. We would be happy to assist you.
