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planned giving

Planned giving is designed to benefit the donor while providing support to the synagogue. Consult with your financial advisor regarding bequests, donations of appreciated assets such as real estate, stock, life insurance, and charitable remainder trusts.

Donating Stock

CKS accepts donations of publicly traded securities including stocks, bonds and mutual funds. By donating stocks with a capital gain, both the donor and the recipient will benefit more if the stocks are donated instead of selling them and donating the cash. If you are thinking of making a donation to CKS, and you have appreciated long‐term stock holdings (non-retirement and held for > 1 year), instead of selling the stock holdings and having to claim the gain as income on your taxes, you can donate the securities directly to CKS and save on taxes.

How do I donate securities to CKS?

  • Complete the Stock Transfer Information Request. CKS will send you the brokerage information that you will need to make the gift.
  • Direct your broker to transfer your donated securities using the information provided by CKS.
  • CKS will inform you when the treasurer sells the gifted stock in the CKS brokerage account (typically occurs within a few days).
  • When the transaction is complete, you will receive a donation acknowledgement letter to let you know that the sale has been completed. This letter will not reflect a dollar value for the gift. The IRS requires this letter for any gift over $250, so it is important to keep it with your tax records. Please note that the value of the donation is determined by you, not by CKS. However, the letter will reflect the receipt of the actual gift of stock by name and indicate the number of shares gifted. The sale price of the security may be different than the value of the deduction claimed on your taxes.

Frequently Asked Questions

  • What determines the value of the securities I donate? This determination is the responsibility of the donor. CKS does not determine the value of the donation, but rather, your broker should provide this information. Assuming there is an active market for the contributed stock, and that the stock traded on the day of the gift, the deductible amount on your taxes is the fair market value on the date of the transfer, not the day that CKS sells the asset. This is defined in IRS Publication 561 as the midpoint between the highest and lowest trading price that day.

Disclaimer: Tax laws may change or your individual situation and results may vary. If you are uncertain of your situation, please consult a financial or tax professional.

Sun, April 18 2021 6 Iyar 5781