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Donation of Stocks and Tax-free IRA Distributions
Beth El The Beaches Synagogue welcomes donations of appreciated stock and tax-free IRA distributions, and you may realize additional tax benefits by making your gifts to Beth El this way. Please contact your personal tax advisor for more information on the tax advantages of donating appreciated stock or making a distribution from your IRA.
You can donate appreciated stock to Beth El The Beaches Synagogue and receive a tax deduction for the fair market value of the stock donated while paying no capital gains tax on the sale of the stock. The stock must have been owned for more than one year to deduct the fair market value of the stock, and the shares must be transferred in kind to CBE’s brokerage account to avoid capital gains tax.
If you are over age 70½, you can make a tax-free distribution from your IRA account to Beth
El. The distribution can be used to satisfy your required minimum distribution. Contact your IRA brokerage house for instructions on making a tax-free distribution.
To make your gift through a donation of appreciated stock, please give your stockbroker the following information.
PO Box 770001
Cincinnati, OH 45277-0003
Account name: Beth El The Beaches Synagogue, Inc.
Fidelity Account #: Z40-202408
DTC Clearing: 0226
Please contact our office manager (email@example.com) in the synagogue office to let us know the following information so your donation can be properly identified when it is received by (Bank)
The name of the stock and the number of shares you are transferring
The date of your transfer
Your broker’s name and telephone number
How you want the donation applied (i.e., to the “Rabbi’s Legacy Initiative”)
Once we have received the stock transfer, we will provide you with a donation receipt for your tax records.
For more information or questions, please contact Gary Herzfeld, Treasurer (firstname.lastname@example.org)