Stock Gifts
Some members choose to support
the Michigan Land Use Institute by donating gifts of appreciated
securities. In addition to providing crucial financial support
for communication and advocacy, you can save capital gains tax.
In order to retain the tax benefits
for yourself, do not sell appreciated shares! If you sell the
shares to contribute cash the IRS will tax you on the capital
gains. Conversely, if the shares you are donating have decreased
in value from your original cost you should consider selling
the stock and donating the cash. This way you can take a capital
loss deduction on your income tax and a charitable deduction for
the full amount of the donation.
You can donate securities by transferring:
Stock
Certificates Top
To contribute by
transferring stock certificates you need a stock power for each
one you plan to donate. These stock powers must be signature guaranteed.
Your local bank or broker can witness your signature and stamp
it accordingly.
Once you have signed the powers (do
not sign the back of the certificates), mail the certificates
in one envelope and signed stock powers with the signature guarantee
in a separate envelope. Then mail both envelopes to:
Michigan Land Use Institute
148 E. Front St., Suite 301
Traverse City, MI
49684-5725
231-941-6584
Fax: 231-929-0937
NOTE: We recommend use of certified
mail with return receipt.
Stock
Held Through Your Broker Top
We make it as simple as possible for
you to transfer stock through your broker to the Michigan Land
Use Institute. You can simply provide the following information in a letter to your broker or ask them to call Judy Cunningham at 231-941-6584 for the information.
Merrill Lynch
Account # 676-04J55
Account Name: Michigan land Use Institute
DTC ID#: 5198
Tax ID # 38-2314954
Please ask your broker to contact Judy Cunningham at 1-231-941-6584 before transferring any securities. This will ensure that our broker is aware of your gift and is actively looking for it.
