Giving Stocks and Securities
Consider making a charitable gift of your stocks and securities. If you have appreciated securities (stocks, bonds, mutual funds) that you have owned for at least one year, you may want to consider contributing them as a gift to Oconomowoc Memorial Hospital. It's a generous and smart way to invest in the health and vitality of our community.
Benefits
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Avoid capital gains taxes
By contributing securities that you have owned for at least one year and that have that appreciated in value, you avoid the capital gains taxes you would otherwise owe if you sold the securities for your personal benefit.
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Take a charitable tax deduction
For federal income tax purposes (including alternative minimum tax purposes), you can deduct the value of the securities on the date of your contribution. The net value of your contribution is the average between the high- and low-quoted selling price on the date that the securities passed from your control. Your gift will be acknowledged in writing by the Foundation for tax purposes.
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Give a larger gift
A gift of stock may allow you to make a larger charitable contribution than would be possible with cash or payroll deduction.
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Save current income
You may save current income for day-to-day needs because a gift of stock does NOT come out of your cash flow.
This information reflects, in very general terms, how a gift might affect specified tax liabilities. This is not an effort to reflect your current tax picture or suggest that a particular gift will have the indicated result in your case; only your lawyer and accountant can do that. We suggest you consult your professionals before acting upon the concepts reflected here.
How to give gifts of stock
Complete a Stock Gift Notification Form
Both the Foundation and our stock agent need advance written notice of your plans to ensure that the transfer goes smoothly and your gifted securities will be properly credited upon receipt. Send a completed form to the Foundation, and we will forward a copy to our agent.
The Stock Gift Notification Form serves as official record of the purpose you have in mind for your gift as well as providing the necessary information for us to monitor the progress of the transfer. Please fill out the form as completely as possible and send it to us before you initiate any transfer of securities. Whenever possible, we would prefer that electronic transfers be arranged to go through our agent rather than your personal broker, whose fees may be much higher.
Please send a signed and dated letter to your broker stating that you wish to transfer stock (type and number of shares) to Charles Schwab & Co, Inc. (DTC-0164, Code 40), for Account #8117-7337 of the Oconomowoc Memorial Hospital Foundation, Inc.
Our agent is Charles Schwab & Co, Inc., 101 Montgomery Street, San Francisco, CA 94104. Tax ID Number: 94-1737782.
The Foundation's Tax ID# is 39-1271647.
How the value of your gift will be determined
The value of your gift is the average price of the stock on the date the stock was electronically transferred to the Foundation. If you have mailed certificates, the date stamped on the U.S. postal service certified mail receipt as the date the stock certificates and fully-executed stock power were mailed will be used. If you use a private carrier (such as Federal Express), IRS rules recognize the gift as being completed when actually delivered, not when the certificates are sent.
If you would like further information about making a gift of stock, contact us by email or call 262-569-0222.