What You Need To Know About Gifting Stock To GROW

Sep 26

2 min read

Giving shares of highly appreciated stock is a great way to support your P-Patch and GROW.

If you have a Family Foundation, Donor Advised Fund, or IRA you may use any of these to make a significant contribution to continue our work. Gifts for the GIVE to GROW Campaign can be directed toward current needs or future work through GROW’s new Endowment (see Legacy Giving on www.grownorthwest.org).

There are just a few things you need to know:

You may give securities (stocks, bonds, and mutual fund shares)
You may give through your DAF (Donor Advised Fund)
- If you do this be sure and note if your gift is to support a specific garden or project; if not designated it will support GROWs general operations/unrestricted
These gifts are exempt from capital gains taxes
If you have owned the stocks for more than 12 months, a gift of these assets can provide you with a charitable income tax deduction equal to the fair market value of the securities at the time of transfer to GROW for up to 30% of your AGI (Adjusted Gross Income), but there are limitations depending on your situation.

Seek out your own tax & legal advice before making a gift of this type as GROW cannot provide you with that. Tax laws change, and it is always safest to check because your particular financial situation may affect the best way to make a tax-advantaged gift and there are other factors to consider.

To Transfer Stock to GROW: Please contact Michael McNutt or Elizabeth Gray for the Schwab Account # and Broker Name before you instruct your broker to transfer the stock to insure that proper protocols are followed and we know the intended purpose of your gift.

COMPANY - EMPLOYER MATCHES

Many employers in our area having a matching gift program. Some will make cash contributions made by employers. For example, Microsoft, Google, Starbucks, Apple, Russell Investments, and Motorola do this – some employers now use GitHub as a way to manage their matching gift programs. Some companies will also make hours of work donated to GROW, and others still will offer employees a chance to volunteer during their regular working hours.

King County has an Employee Giving Program, and GROW is listed as one of the nonprofits that employees can give to during October and November. Our number that must be entered is: 10137 (TBC by Linda). If you know someone who might like to be an Ambassador for giving to GROW, please contact Elizabeth Gray below asap!

For further information, please contact:

Michael McNutt, GROW Co-Treasurer (206) 766-3137

Elizabeth Gray, GROW Co-Treasurer (206) 245-4482

Please leave a message if you do not reach either Michael or Elizabeth and he/she will return your call asap as time is of the essence for stock transfers. You may wish to follow up with an email to Michael.M@grownorthwest.org or Elizabeth.G@grownorthwest.org.