Donate More for Less with a Gift of Stock
Your gift of highly appreciated securities will help struggling Rhode Islanders and may be tax-deductible.
To transfer securities electronically to the Food Bank, contact Jill Gonsalves at (401) 230-1675 or via email.
Instructions for making a stock gift to the RI Community Food Bank
- RI Community Food Bank Tax ID#05-0395601
- DTC Participant #0954
- RI Community Food Bank Association Account #10595928010
- Investment Contact:
One Financial Plaza, Suite 2200
Providence, RI 02903
Ph: (401) 228-2533
Fax: (401) 228-2510
- Rhode Island Community Food Bank Contact:
Director of Annual Giving
Rhode Island Community Food Bank
200 Niantic Avenue
Providence, RI 02907
Instructions for Transfer of Cash Gifts to the RI Community Food Bank
- BNY Mellon
Credit to DDA: 108138
Attention: Private Wealth Management
Reference: RI Community Food Bank Association
Account No.: 10595928010
Download instructions (PDF, 66KB).
Here is an example of how a larger gift will cost you less by donating stock instead of cash:
Matt has stocks currently valued at $25,000 that he purchased for $5,000 several years ago. This will result in a $20,000 capital gain if he sells the securities. He is in a 35 percent income tax bracket.
If Matt donates this stock to the Food Bank, both he and the organization will reap the benefits.
- Matt receives an income tax charitable deduction for the full fair market value of $25,000, saving him $8,750 ($25,000 X 35%) in income taxes.
- Matt bypasses the $20,000 capital gain and in his 15 percent capital gains tax bracket, he saves $3,000 ($20,000 X 15%).
- Matt's total tax savings from both capital gains and income taxes is $11,750! And, the gift only cost Matt the $5,000 he initially invested.