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Donate Stock or Give Through Your IRA

Time Commitment: As long as you’d like!

Best for: Anyone

A gift through your investments can maximize your ability to nourish children today! These gifts are simple to set up and can often provide considerable tax savings.

Stocks, Securities and Mutual Funds

If you have held a stock for more than a year and it is worth more today than what you paid for it, you will owe capital gains tax (currently up to 20% for some stocks) on the appreciation when you sell it. However, if you donate appreciated stock to Kids’ Food Basket, you can avoid paying capital gains taxes on the appreciation. Plus, you are still eligible to deduct the full fair-market value of the asset you donated from your income taxes, up to the overall amount allowed by the IRS. This makes the benefits of donating appreciated stock substantially more valuable versus giving cash.

IRA Charitable Rollover

At the age of 70 ½, you are required to make a minimum annual withdrawal from your IRA, whether you need the income or not. This is called your Required Minimum Distribution (RMD). When you withdraw this income, the full amount is taxed based on the tax bracket you’re in during that year. However, you can avoid these taxes by making a Qualified Charitable Distribution (QCD) directly from your IRA to Kids’ Food Basket. The amount distributed directly to Kids’ Food Basket or another qualified charity will not be taxed.

How do you get started?

We encourage you to seek the advice of your financial, tax or legal advisor about giving stocks or making an IRA distribution. Then, contact Ashley Diersch, Development Director, at ashleyd@kidsfoodbasket.org or 616-235-4532 with questions or to obtain account information for making a stock gift to Kids’ Food Basket.

Legal Name: Kids’ Food Basket

Address: 1300 Plymouth Ave NE
Grand Rapids, MI 49508
Federal Tax ID Number: # 04-3760991

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