What All You Must Know About Stock Donations

These days you will hear people talking about stock donations that they choose to do for some charity. If you have not known how it is actually done then this is the perfect time for you to know the same. Stock Donations have been in buzz because of the tax benefits they impart to individuals. It’s just that you have to find the charity or a non-profit organization which you would like to donate some stocks. But again, that specific charity must provide you with an option of stock donation. Well, most of them do receive such donations nowadays while few are still following the traditional way of accepting the donations.

If you have had stocks in your possession for more than a year then you can make a kind gesture out of them. The number of stocks and the kind of stocks that you would like to donate depends entirely upon you. To start with the process you can meet your financial adviser as he or she can give you a nice perspective of the whole procedure. But if you can’t avail one then here is the simple process unfolded for you.

First, you choose the right kind of charity. One that actually serves the purpose for which it has was established. You can get a list of such non-profit organizations with the aid of simple search using the internet. Also, remember that you do assure that the charities accept donations in the form of stocks. If the same has not been mentioned on their web sites then you give all of such charities a call and ask them this question.

Second, when you finally select the non-profit organization for which you will donate your stocks then pay a visit to any one of their facilities, if you please. This way you will know from the organization that how your donations will serve their purpose of serving the society. Once you are satisfied with their work ask them the brokerage account name and number they have. Stock donations cannot be made without the intervention of a broker. So this step is but obvious to follow. After you have got all the information regarding the charity’s brokerage account you have to clear the third step in the process.

So third, you go to the office of your broker. He or she will be the one who will start the actual process of stock donations. After giving him few of the details about your stocks the procedure is completed.

In a few business days the stocks ownership is transferred to the charity. In the end you are left with documents that help you availing the tax benefits and loads of blessings for the kind deed.