If you donate stock that has increased in value since you bought it more than a year ago, and you itemize deductions, you may take a charitable deduction for the stock’s fair market value on the day you donated it.
Stock donations that meet these criteria allow donors to avoid taxes on the increase in value since the stock was purchased. Taxes must be paid when stock is sold, and proceeds are donated. In other words, we get a larger gift, and you get a larger deduction!
Please check with your tax professional to be certain that these benefits are applicable in your particular donation, prior to donating! Once you're ready to donate, use our account information below to make your transfer.
Donate shares directly to our brokerage account:
Brokerage Firm - Charles Schwab
Account Name - Reno Chamber Orchestra
Account# - 5103-2655
Please notify us, or request that your broker notify us, when you donate shares. When you notify us include the name of the stock you have contributed, the number of shares, and date of transfer. This will allow us to correctly attribute your gift when it is received.