Did you know that donating stock is one of the smartest ways to give — and it benefits you while supporting the Northern Center? Here’s why:
You can give more: When you donate your appreciated assets (stock you’ve held for at least 1 year), you avoid paying capital gains tax, which is the tax you’d have to pay on the increase in value over time if you were to sell the stock and donate the cash.
You can save on taxes: This link allows you to calculate capital gains tax to see how much you will save by donating stock instead of donating it as cash.
Now is the perfect time to donate: For your gift to be eligible for your 2021 tax return, the transaction must be complete by December 31, 2021. Start today!
Next, tell your broker the amount you would like transferred and give them the Northern Alaska Environmental Center’s EIN (23-7438038). Expect a call from us soon with follow up details.
Also, if you’re over the age 70½ you can transfer up to $100,000 from your IRA to charity completely tax-free. Be sure to report QCD (qualified charitable distribution) on your tax return!