Stock Gifts
Many donors choose to make stock gifts each year. A charitable gift of stock held for more than 12 months can offer two potential tax savings:
Avoid paying capital gains tax on the appreciation of your stock, and
Receive a tax deduction for the full fair market value of the stock on the date of the gift
Subtracting the tax savings from what you originally paid for the stock can result in a gift that costs just a few pennies on the dollar. This is an excellent giving option for stocks that have appreciated substantially.
In addition to the attractive tax benefits of a gift of stock or mutual fund shares, you will also take satisfaction in knowing that you are helping our clients receive the safety, hope, and healing they seek.
How to initiate a stock transfer
The fastest and easiest way to make a gift of stock is to have your broker perform an electronic transfer. You can also contact Tubman’s broker at the following contact information:
Brokerage Firm: UBS Financial Services
Client Specialist: Caleb Quenzer
Phone: 952.249.4784
Tubman Account Number: #RP64260
DTC Number: #0221
Tubman EIN: 41-1240048
Finally, when you make a gift of securities, please contact us so we can acknowledge your gift in a timely and efficient manner. Or, for more information, contact mpropst@tubman.org or 612.767.6685.
Direct Gifts from an IRA
If you are at least 70½ years old, you can make a gift of up to $100,000 each year to Tubman directly from your IRA. Qualified charitable distributions may help reduce your taxes while fulfilling your required minimum distribution.
This charitable transfer excludes the gift from your gross income for Federal Income Tax purposes and can be especially attractive for donors who do not itemize or would like to keep reportable income low to avoid having Social Security and other income taxed at a higher rate.
Who might benefit:
Persons who do not require the income in an IRA
Persons whose charitable contributions are reduced by the percentage of income limitation
Persons having so few deductions that they choose not to itemize
It's easy to get started:
Contact your IRA plan administrator to make a gift. Your funds will transfer directly to Tubman, helping us impact our clients and communities quickly.
For your account administrator:
Tubman
Tubman EIN: 41-1240048
Address: 4432 Chicago Ave S, Minneapolis, MN 55407
Please let us know if you decide to make a gift so Tubman can thank you and ensure it is used as you intend.
Donor Advised Funds
Donor-advised funds (DAFs) offer a flexible, tax-efficient way to support the causes you care about while expanding opportunities for safety, hope, and healing in our community. A DAF is a charitable investment account established solely to support eligible nonprofit organizations. DAFs can be opened through a variety of sponsoring organizations, including community foundations and financial services companies.
When you contribute cash, securities, or other eligible assets to a DAF at a public charity, you may generally receive an immediate tax deduction. You can then invest the contributed funds for potential tax-free growth and recommend grants to IRS-qualified public charities, such as Tubman.
DAFs have become the fastest-growing charitable giving vehicle in the United States because they offer one of the simplest and most tax-advantaged ways to give. You can recommend your donor-advised fund to make a gift on your behalf – even during a multi-year time frame – provided the commitment comes from the fund itself. You can also establish a memorial fund through a donor-advised fund in honor of someone. It could be a new fund altogether, or a grant in memoriam out of an existing fund.
Contact your gift advisor to start the giving process. The information you’ll need is:
Tubman
4432 Chicago Ave S
Minneapolis, MN 55407
EIN: 41-1240048
Please note: Payments from donor-advised funds may not be used toward event registrations or other payments that return tangible benefits. Please check with your fund advisor for additional information on IRS restrictions on gifts from a donor-advised fund.
