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.
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.
(Please remember that this is a general example. All tax situations are unique. We urge all donors to seek professional tax advice prior to making a stock or planned gift.)