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Samaritan Counseling

Tax Benefits of Donating Stocks

Donating stock directly to Samaritan can reduce the tax burden for the donor while increasing the amount of money received by the charity. There are IRS tax provisions that enable some individuals to avoid capital gains taxes on the appreciated stock transfer by claiming a charitable tax deduction for the fair market value of the securities. Because you avoid paying the taxes on the gains of the stock, Samaritan actually receives a larger donation than if you had donated the cash from selling the stock.

Step One

Find out the name of stock and its symbol.

Determine how many shares you wish to donate.

If it is not a publicly traded stock, please contact Ellen Caldwell at 901-212-2160.

Step Two

Request the transfer from your financial institution.

Provide them with: DTC ID# 0226 Corporate Account # Z33473397

Step Three

Contact Ellen Caldwell  in advance at 901-212-2160 or email us at
admin@samaritanmidsouth.org
You will receive a tax receipt and acknowledgment letter from Samaritan. To claim the tax benefits of donating stock, report the donation when filing your tax return.