A gift of appreciated stock generally offers a twofold tax advantage:
- You avoid paying capital gains tax on the increased value of the stock.
- You get an income-tax deduction for the full fair-market value of the stock at the time the gift is received.
If you have owned stock for a “long term” period (more than a year), you qualify for these significant tax advantages.
It’s easy to make a gift of stock to Mother Jones via the Foundation for National Progress (FNP). Ask your broker to transfer the shares to the FNP. We are a 501(c)(3) nonprofit under EIN 94-2282759.
The transfer should be encoded as follows:
Merrill Lynch
Foundation for National Progress DBA Mother Jones Magazine
Tax ID: 94-2282759
Account #: 6CL02506
DTC Clearing 8862
To ensure that you are properly credited and acknowledged for your gift, please have your broker contact Sydney Sims at ssims@motherjones.com or (415) 321-1754 with notification that the transfer is taking place.
