Appreciated securities or mutual fund shares that you’ve owned for more than a year are an excellent way to support McColl Center.
Why donate appreciated assets?
Donating stock and other securities offers several benefits:
- A federal income charitable contribution tax deduction based on the stock’s fair market value on the date of the gift (up to 30% of your adjusted gross income) if the stock was owned for more than one year;
- Carryover of the deduction for up to five additional years if the fair market value of the gift is more than 30% of your adjusted gross income; and
- Avoidance of capital gains tax that is due when you sell appreciated stock.
Note: Stock owned for one year or less is considered a short-term asset and usually will not produce attractive tax benefits.
If the stock has decreased in value, selling it and making a cash gift to McColl Center is probably more beneficial. You can take a capital loss on federal taxes and still enjoy a charitable deduction of up to 50% of your adjusted gross income.
How to Donate
Each appreciated asset gift we receive helps us continue supporting artists and providing space for the community to come together through the celebration of art while also providing you with tax benefits. You can follow the steps below to take advantage of this opportunity:
Stock Held by a Broker
- Give your broker the following information to transfer a gift of stock to McColl Center:
- Merrill Lynch | Account Number: 5PY-02243 | DTC #: 8862
- Name on account: McColl Center for Art + Innovation
- Contact us to let us know you’re planning a stock gift. This helps ensure your gift is properly credited and acknowledged.
Stock Certificate Held by a Donor
- Contact us to inform McColl Center that you are making a gift of stock.
- Using registered mail, send the unendorsed securities along with a letter stating you wish to contribute the securities enclosed to McColl Center for Art + Innovation, including the name and number of shares of each stock to:
721 N. Tryon St.
Charlotte, NC 28202
Donating Other Securities?
To donate mutual fund shares, required minimum distributions, or other securities, please contact us to discuss.
Please let us know if your stock gift will be eligible for an employer-matching gift contribution.