Lessons from Lee: Contribute appreciated assets, not just cash

Would you consider making a larger contribution to the League if you could save on taxes?

Please consider a gift of publicly traded securities that you’ve held for more than one year. Appreciated stocks, bonds, exchange-traded funds (ETFs), and mutual funds all qualify - and it’s a great way to accomplish your charitable objectives and diversify those highly appreciated stocks in one step.

If you itemize deductions on your tax return rather than taking the standard deduction, donating these assets can unlock additional funds in two ways. First, you potentially eliminate the capital gains tax you would incur if you sold the assets yourself and donated the proceeds. Second, you may claim the fair market value charitable deduction for the tax year - and pass on the savings in the form of more giving!

This strategy is a win-win for you and the League. I hope you will consider it.

Here’s how:

Step 1: Contact the institution where your stocks are held and let them know you’d like to transfer shares of stock to the Preservation League of New York State account at Merrill Lynch.

You may need the following codes:

• DTC # 8862

• Account # 8A3-02042

• Should you need it, our EIN is 23-7379938

Step 2: Let us know about your gift of stock

Stock donations transferred to our account aren't accompanied by your donor information. We want to be sure we can immediately thank you for your gift and send you a tax receipt, so please let us know about your donation by contacting Betsy Gramkow at bgramkow@preservenys.org. We’ll mail you an acknowledgment letter, complete with tax information and our sincerest thanks.

And don’t forget to find out if your employer will match your donation!

If you or your broker have any technical questions regarding the transfer, please contact our account manager, Marie Capozzelli, at 518.783.7200, x 114 or mcapozzelli@lutzseligzeronda.com.

As always, please consult your financial advisor before making a charitable donation.