Stock Gifts

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:
  Chelsea B. Soule
  Portfolio Administrator
  BNY Mellon
  One Financial Plaza, Suite 2200
  Providence, RI 02903
  Ph: 401-228-2501
  Fax: 401-228-2510
  chelsea.soule@bnymellon.com
• Rhode Island Community Food Bank Contact:
  Jill Gonsalves
  Director of Annual Giving
  Rhode Island Community Food Bank
  200 Niantic Avenue
  Providence, RI 02907
  Ph: 401-230-1675
  Fax: 401-942-2328
  jgonsalves@rifoodbank.org

Instructions for Transfer of Cash Gifts to the RI Community Food Bank

• BNY Mellon
  ABA #011001234
  Credit to DDA: 108138
  Attention: Private Wealth Management
  Reference: RI Community Food Bank Association
  Account No.: 10595928010 Download instructions (PDF, 64KB).

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.