You transfer stocks, bonds, and mutual fund shares that you have owned for more than one year to College Bound. We then sell your securities and use the funds for programming.
You receive an income tax deduction for the fair market value of the securities as of the transfer. You pay no capital gains tax on the transfer upon sale of the stock. The “cost” of your gift is often less than the deduction you gain by making it.
Cash gifts and gifts of appreciated securities of equal amounts generate the same charitable deduction. However, if you give publicly traded stocks, bonds, or mutual fund shares that you have held for one year or longer, you can transfer to College Bound without recognizing capital gains on the appreciation. Therefore, you can leverage a larger donation than you could make with cash and receive a larger tax benefit.
If you would like more information about transferring appreciated securities or have questions about how to best approach a gift of stock, please contact Michelle Caldeira, Senior Vice President, at 617.506.5947.
College Bound is a 501(c)3 nonprofit, meaning your gift is tax deductible to the fullest extent of the law.
An organization called College Bound Dorchester is giving former high school students the resources they need to succeed. By Pamela Bechtold, NECN “Dropping out of high school often leads to a dead-end for young people. But the future is looking up for some former students now being offered a second chance from a Boston organization.... Read more »