Donating assets
Giving assets is a particularly tax-advantaged way to donate. When you give stocks, cryptocurrency, ETFs, or mutual funds to a non-profit, you are giving more in terms of value, without having to pay more out of pocket. Donating appreciated stock is up to 37% more tax-efficient than cash. The difference comes from the capital gains from taxes that would have had to be paid when the stock is sold. When you donate stocks directly to a non-profit, neither you nor the charity will have to pay capital gains tax on such investments. Also, you will still receive the tax receipt for the fair market value at the time of donation.
If your stock is in a brokerage account, transferring is relatively easy. The only information that your broker needs to make the transfer is our account numbers and EIN. IGC uses Charles Schwab as our brokerage to manage asset donations. Please contact finance.igc@gmail.com for more information or if you have additional questions.
IGC's policy is to sell the assets after they are received so that the funds can be used for ministries.