Appreciated securities such as stocks and bonds are often contributed to the Urban Homesteading Assistance Board. This simple, effective method of giving doubles your tax benefit:
- If you itemize your return, you can receive an income tax charitable deduction for a contribution of appreciated securities; those owned for longer than a year are deductible for their full fair market value.
- You also avoid capital gains tax.
How to Make a Gift of Securities
There are several ways to make a gift of securities. If you have the actual certificate, you can mail the unendorsed certificate and a signed stock power (in separate envelopes) to the Urban Homesteading Assistance Board. The gift date is determined by the postmarks on the envelopes. Most financial institutions can provide stock powers.
The fastest and easiest way to make a stock gift is to have your broker perform an electronic transfer. He or she will need the following information:
DTC #: XXX
Account Name: Urban Homesteading Assistance Board
Account #: XXX
Brokerage: XXX
Your plan administrator may require the following information: the Homesteading Assistance (U-hab), Inc. is a "public foundation," incorporated in the State of New York on November 30, 1978, and is classified as tax-exempt under Internal Revenue Code 501(c)3. The tax identification number for the Urban Homesteading Assistance Board is 13-2902798.
Important: please be certain to contact us when you've made a gift of securities.
Before making a donation to the Urban Homesteading Assistance Board, we recommend that you consult your advisor or attorney for full advice on the effect of your gift.