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Even with the recent "market corrections," many individuals have held stocks for long periods of time, and have seen their value soar. If you contribute long-term appreciated securities to Cardinal Glennon Children's Medical Center, you receive a two-fold income tax benefit: A charitable deduction for the full present fair market value of the stock, plus no tax on the value of the appreciation. The limit on deductibility in any tax year is 30% of your adjusted gross income; any excess is deductible over the next five years. Example: Dolores contributes long-term stocks. The stocks are now worth $15,000 but they cost her only $10,000. She is entitled to a charitable deduction of the full $15,000. She will not pay any taxes on the $5,000 appreciation. If you wish to contribute securities on which you have a loss, consider selling them first instead and then donating the proceeds to Cardinal Glennon. You will then realize a tax deduction for the loss in addition to the charitable tax deduction. To transfer stock, please call the Office of Development at 314.577.5605 or 1.800.269.0552 to receive clear, concise directions.
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