Gifts of Stock
A gift of stock is one of the most tax-efficient ways to support regional fisheries conservation. When you donate appreciated shares directly, you avoid capital gains tax on the appreciation and can typically deduct the full fair market value of the gift on your income taxes.
(As with any charitable gift, donors should check with their tax advisor to see how this applies to their specific situation.)
How Do I Make a Stock Gift?
To donate stock, to Clark-Skamania Flyfishers contact CSF to get their brokerage account information. Then, you can either initiate the transfer yourself through your broker or use a donation platform to help facilitate the process. After the transfer, make sure to notify the nonprofit of the donation and obtain a receipt for tax purposes, which you will need when you file your taxes, typically using IRS Form 8283.
1. Prepare for the donation
Choose a nonprofit: CSF is a qualified 501(c)(3) public charity that accepts stock donations.
Consult a professional: Consider speaking with a tax advisor to understand the tax implications for your specific situation.
Contact CSF: Reach out to CSF and get our specific brokerage account information and transfer process.
2. Initiate the transfer
Traditional method: Contact your broker to start the transfer. You will need to provide CSF’s account information and fill out a stock transfer form. Send the completed form to your brokerage.
Online platform: Some platforms, like DonateStock or Stock Donator, can automate the process by connecting with your broker and sending the stock to the charity, often after it has been converted to cash.
3. Complete the process
Notify CSF: Let CSF know that you are donating, providing them with the stock name and number of shares, and your brokerage firm.
Receive confirmation: After the transfer is complete, CSF will send you a written acknowledgement or receipt. Keep this document for your records.
File your taxes: Use the information from the receipt and your brokerage statement to report the donation on your tax return, including IRS Form 8283.
Disclaimer
The information on this page is provided for general educational purposes only and is not legal, tax, or financial advice. Tax laws and rules vary and change over time, and their application depends on your individual circumstances. Please consult your own attorney, tax professional, or financial advisor before making a donation.