Making a Gift of Securities to the Foundation for National Progress

If you own stock, it is sometimes "tax-wise" to contribute stock rather than cash. A gift of appreciated stock generally offers a two-fold tax advantage:

1. You avoid paying capital gains tax on the increased value of the stock;
2. You receive an income tax deduction for the full fair market value of the stock at the time of the gift.

For example, if you purchased some stock many years ago for $1,000, and it is now worth $10,000, an outright gift of the stock would result in a charitable deduction of $10,000. In addition, there is no tax on the $9,000 appreciation in value.

If you have owned stock for a "long-term" period of time, more than a year, you qualify for these significant tax advantages. Your gift must be postmarked by December 31 to qualify for a deduction in that tax year. A stockbroker or trust officer also can arrange for a year-end gift of stock from your account.

A stock transfer form is provided for your convenience.

More Information About Making a Gift of Securities

It's easy to make a gift of stock to the FNP. Here are two ways:

• Ask your broker to transfer the shares to the FNP. The transfer should be encoded as follows:

  Charles Schwab
  Schwab One Account
  Foundation for National Progress, dba Mother Jones Magazine
  Tax ID #: 94-2282759
  Account #: 4176-1072
  DTC Clearing 0164, Code 40

• If you hold the stock certificate, send it unendorsed in an envelope to:
  Foundation for National Progress
  Attn: Chief Financial Officer
  222 Sutter Street
  Suite 600
  San Francisco, CA 94108
  

  In a separate envelope to the same address, send a signed, but otherwise blank, stock power form.

A stock transfer form is provided for your convenience.

In addition, to ensure that you are properly credited and acknowledged for your gift, it is helpful if you or your broker contact the FNP at 415.321.1700 to let us know a transfer is taking place. You may also use the form here to contact us.