Window of Opportunity for Donating Appreciated Stock is Now

Fall is the time of year when many of us think about the timing of our charitable gifting. The end of the year is a popular time to give to charities, and it is an opportunity for tax planning, and for taking advantage of market timing. It just so happens that our stock market is near historical highs, which is a great opportunity that is knocking. Usually, stock gift calls to the Community Foundation start around Thanksgiving. Fundholders begin planning to make transfers of stock to get a charitable gift deduction and avoid capital gains. A stock gift increases their charitable fund for their holiday granting, and frequently for future years as well. This year those calls started last week. I am spurred to write about this window of opportunity by a donor who let me know he called his advisor, and the advisor agreed that now is the time. This fall, we are in the process of working on two real property gifts and exploring gift opportunities for two families who are considering donating closely held stock. As these sophisticated gifts sometimes take a couple of months to complete, now is the time to begin work on those types of gift arrangements. Traditionally September is not a market high. The stock market often trends slightly upward towards year-end, but we all know what happened in the fourth quarter last year. Should you, a family member, or a client wish to explore charitable gifting prior to the end of the year, please contact the Community Foundation at your earliest convenience.  Opportunity is knocking now. It doesn't always knock twice. Chris Askin, President, and CEO