You can give Pinky Swear a gift of securities (including stocks) or mutual funds that have appreciated in value. Gifts of publicly traded securities provide a double tax benefit. You avoid a capital gains tax on appreciated securities, and you receive a charitable income tax deduction for the full fair market value of the securities.
According to IRS Guidelines, the date and value of your gift are determined by the date on which Pinky Swear Foundation takes control of the securities.
How to make a gift of stock to Pinky Swear Foundation
- Notify us about your gift of securities by calling us at 952-232-6963.
- Download, fill out and sign the transfer form, and give it to your broker prior to the transfer day. The form has the Pinky Swear Foundation account information you will need to make the transfer.
RBC Capital Markets Corporation (Alerus Securities)
Credit Account #821-06649 in the name of Pinky Swear Foundation
- Ask your broker to attach your name to the transaction description so we know the gift is from you.
- If you or your broker have questions contact Alerus Securities at (701) 795-4072.
How to donate an IRA distribution to Pinky Swear Foundation
If you are 70 ½ or older, you can transfer up to $100,000 to Pinky Swear Foundation tax-free each year – even if that’s more than your required minimum dstribution (RMD). If you are required to a take a minimum distribution (RMD) from your IRA, please consider the Pinky Swear Foundation as a charitable giving partner.
There are a lot of tax perks to be gained from giving your required minimum distributions from an IRA directly to Pinky Swear Foundation. The most significant benefit may be the impact your contribution will have on a child battling cancer.
If you make a direct transfer from your IRA to Pinky Swear Foundation, you get to count that money toward your RMD — and because it’s not actually distributed to you, it won’t increase your adjusted gross income. That means the move could help you avoid high income surcharges, make fewer of your Social Security dollars taxable, and maybe even keep you in a lower tax bracket, among other benefits. Please consult with your financial advisor for your own personal benefits.
Please note that if you make a tax-free transfer from your IRA to a charity, you cannot also deduct that money as a charitable contribution. If that is your goal, take the withdrawal yourself and then make the donation to Pinky Swear Foundation.
How to make a gift from your IRA
To gift your RMD to Pinky Swear Foundation, contact your IRA account administrator for the specific forms or protocol needed. If you have check-writing privileges for your IRA, you can write a check to the Pinky Swear Foundation yourself. If not, you may need to have the IRA administrator cut a check from your account to Pinky Swear Foundation.
Be sure to give let us know in advance, so we ensure your generous contribution is properly managed upon receipt and allow us to gratefully and humbly thank you for your gift.
For more information, please contact Erica Campbell, Executive Director, at 952-232-6963 or via email.
Your generous gift will immediately help us support more families facing the crisis of their child’s cancer diagnosis. We look forward to sharing the stories of how you have directly made a difference in the life of a child battling cancer.