The Market has done well…now you can too!
The strong stock market this year has continued to benefit individual portfolios. As stock prices have soared, so too have the values of IRA’s, 401K’s and other retirement plans. But for many, an increase in the price of their stocks represents an unwelcome byproduct; capital gains which are taxed.
Capital gains are the difference between the price paid for a stock and its current market value. This difference, or gain, is taxable when selling the stock. However, if appreciated stock is donated to the Catholic Foundation, you avoid having to pay capital gains taxes. The stock proceeds can be added to existing Endowment Funds that support a Catholic cause that is important to you or used to create a new Endowment or the flexible Donor Advised Fund.
If you would like more information about stock donations, contact Scott Hartman (614-443-8893 or firstname.lastname@example.org) for additional details. In order to ensure all stock is received prior to the last business day of the year (Monday, December 31) all stock transactions should be initiated no later than Friday, December 28!