Gifts of Stock

Donating assets to ITN is easy, and you will be entitled to a charitable income tax deduction

gifts of stock for charitable income tax deduction

A gift to ITN of appreciated securities held long term can be very tax wise, and the process to donate these assets is easy. Not only do you avoid paying a capital gains tax on the transfer, you will also be entitled to a charitable income tax deduction. ITN receives the full fair market value, and you may designate a portion to a local affiliate of your choice or for specific ITN programs.

This is how it works:

  1. Discuss the gift with your own advisor.
  2. Contact ITNPortland's Development Department at (207) 854-0505 to discuss the securities you plan to donate. We will provide you with the necessary details so your stock may be transferred by your broker into the ITN account. Or, if you prefer, simply have your broker call us.
  3. Notify your broker and ask him or her to transfer only appreciated publicly traded stock that you have held more than a year, ie. long term. Provide the broker with the instructions from ITNPortland or provide the broker with our contact information.
  4. Your broker will then transfer the securities and ITNPortland will sell the securities without having to pay any capital gains taxes. We will put the full fair market value of your securities to work to support our programs.
  5. You will receive an income tax deduction for the gift and will not owe any capital gains taxes on the transfer. Your tax advisor can instruct you on the precise amount and nature of your deduction.

If you hold stock in actual certificate form, those are easily transferred too. You will need to sign a stock power form for each certificate, sign each certificate, and send the certificate(s) in one envelope and the stock power(s) in another using certified mail on the same date. Please contact ITNPortland's Development Department for more details.

Publicly traded stock and mutual funds are the most common securities used to make charitable gifts. But other securities can also be gifted. Please contact ITNPortland's Development Department if you have other securities you wish to discuss. In addition, should you hold securities at a loss, it is generally best to sell those and donate the proceeds. Again, it is important to discuss these gifts with your own advisor as each taxpayer's situation may differ.

Giving stock to ITN is not only an effective way for you to give from a tax standpoint, it is a simple way to support our programs. Thank you for considering such a gift. Please let us know if we can provide you with additional information.