With market values strong and tax season underway, it’s a good time for donors with appreciated stock to know that they could consider gifting those shares instead of making cash gifts. Donors bypass capital gains tax entirely (which may favorably impact other tax areas too, such as taxability of social security benefits) and they can deduct the fair value of the stock as a charitable deduction if they itemize. Aside from gifting calves or grain, it’s one of the better deals in the Code.
The Gettysburg Area Community Foundation was officially recognized Monday evening with a $25,000 grant from the South Dakota Community Foundation. This stems from a challenge issued by the South Dakota Community Foundation in 2011 to raise $100,000 before the end of 2014. Thanks to the support of local residents and business owners, and to the efforts of local foundation leadership, they completed the challenge with time to spare.