Gifts of Stock
Gifts of Stock

What is better to donate? Cash or Stock?

A cash gift or the same amount in appreciated securities both generate the same charitable deduction.

But if you gift publicly-traded stocks, bonds or mutual fund shares that you have held for a year or longer to make your gift, you will receive an additional tax benefit: the IRS allows you to make your transfer to a charity without recognizing capital gains on the appreciation

Donating a gift of stock to Single Mothers Outreach is easy. If your stock is held in a brokerage account, you simply instruct your broker in writing to transfer the shares to the Single Mothers Outreach account listed below, along with the account number and DTC for the brokerage. Please be sure to note if the gift is unrestricted or should be used for a specific program, and then have a copy of the letter sent to Single Mothers Outreach to ensure that you are credited for the gift and that your generosity is properly acknowledged.

  • Brokerage Name: Raymond James & Assoc., Inc.
  • DTC Number: 0725
  • Account No. 30419275

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Sample Letter To Your Broker:

Dear (Broker’s Name):
This letter is to direct you to transfer ____ shares of stock in (company) from Account#______ in my name (or in the name of _____) to the account of the Single Mothers Outreach, Inc., Tax I.D. #95-4646004, at: Account #30419275, Raymond James & Assoc., Inc., DTC #0725. This gift is (unrestricted/restricted) to be used for _____________________.
Your Signature
& Address

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For more information or if you have questions about donating stock, please contact:

vance
Barbara Erickson, Client Services Manager
Vance Wealth Group  
Phone number 888-775-0950 

or 

Yorleni Sapp, Executive Director
Single Mothers Outreach

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Gifts of Stock

Parenting is too important a responsibility to bear alone, yet all too often single mothers and fathers are forced to do just that. With a mission to “empower single parents and their children by providing hope, support, and resources so that families can become self-sustaining and thrive,” Single Mothers Outreach (SMO) directly helps single parents find jobs, get educated, secure housing, stabilize their children’s emotional states, manage their finances, and help one another. Please visit www.singlemothersoutreach.org for more information.