Larry and Ronna Davis are proud to be part of a long series of contributors supporting Oklahoma City’s Jewish community.
For years, the couple has leveraged the Kirkpatrick Family Fund ’s matching grant program to make a greater impact with their giving. They recently made a gift of appreciated stock to create a donor advised fund in support of Oklahoma City’s Temple B’Nai Israel.  Read more
Four Things to Know about Gifting Stock to Charity
by Joe Carter, Oklahoma City Community Foundation Vice President of Development
While the higher standard deduction might mean fewer itemizers this year, the new tax law left some of the biggest tax advantages for charitable donations untouched. Case in point: appreciated stock. As we dive in for a deeper look at this tax-wise giving strategy, there are two determining factors that should be considered: First, how long has the security been held? Second, has the value increased or decreased?

Here are four things to know about gifting stocks to achieve a maximum charitable tax deduction this year:

1.   In most cases, gifting appreciated stock held for more than a year provides a greater benefit than gifting cash in the same amount.  By gifting stock, capital gains are avoided, and the donor receives a charitable deduction for the full market value of the security regardless of the cost basis. Gifts of appreciated stock are limited to a 30 percent deduction of the client’s adjusted gross income (AGI). However, any unused deduction can be carried forward up to five years.

2.   If the stock has decreased in value, sell the stock and gift the proceeds.  The donor can take a loss and a charitable deduction based on the cash gift. When gifting cash, the deduction limit is raised to 60 percent of the AGI. 

3.   Keep in mind that timelines can be a factor.  The required paperwork for a gift of stock might take up to a week (or longer) to process while the paperwork for mutual funds normally takes longer. The Oklahoma City Community Foundation has accounts at most of the local and national brokerage firms, making it easy to facilitate a transfer of securities. The client simply provides their financial advisor with our account number and the transaction is completed in 24 to 48 hours. We then issue a gift acknowledgement for the closing average price to the donor within 10 days.

4.   Gifting appreciated stock directly to a donor advised fund is an easy transaction.  A donor can transfer the securities to a donor advised fund and then decide how and when to make grants to one or more charity(s). 
As this year ends, we can help your clients can take advantage of this charitable vehicle to be more strategic with their charitable giving.
Read more about our suggestions for efficient year-end giving strategies at OCCF.org/YearEnd . Or, contact me at 405/606-2914.  
Upcoming Events
Do you want to increase your professional knowledge and skills and better serve your clients? Do you want insight that will benefit your clients immediately? This free luncheon hosted through the Oklahoma City Community Foundation and the Cannon Financial Institute helps you make it happen! 
January 29
The New Moderately Wealthy: Planning for Clients with Net Worth Under $11 Million
Registration opens January 3
February 26
The Moving Target: Planning for Clients with Net Worth Over $11 Million
March 26
Identifying Landmines and Minimizing Battle Scars in Conflicts Between Trustees and Beneficiaries
Registration for each event will open online following the prior month's teleconference.  
ICYMI: Our 2018 Annual Report
Thanks to you, the Oklahoma City Community Foundation has been a place where people come together to make a difference for nearly 50 years.

We are pleased to share our 2018 Annual Report highlighting our impact during Fiscal Year 2018 and sharing the stories of the generous individuals who have joined us on this journey.
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