Donating stock or mutual funds to RAIN Communities can benefit homeless families, and help you save money on your taxes. If you donate stock that you have held for more than 12 months, and it has increased in value then you can avoid paying federal capital gains taxes on it. You may also be able to claim a charitable tax deduction for the full market value of the stock or mutual funds at the time of the gift, just as if you wrote a check for the same amount.
You may transfer stock to RAIN Communities, Inc.’s UnionBanc Investment Services account by electronic transfer. This is the easiest and most efficient way to handle a stock transaction.
Simply call or write your broker with the following information to facilitate the transfer:
- DTC #: 0226
- Account #: 0BP-770460
- Account Name: RAIN Communities, Inc.
- Tax Identification Number (FEIN): 61-1419784
Please call Libby Garcia at (805) 816-3057 or email lgarcia@raincommunities.org to notify us of your intent to make a gift of stock and provide us with the following information so that we may properly record and acknowledge your gift:
- Your broker’s name and phone number
- The name of the stock, and
- The number of shares you plan to transfer.
This is an important step, since your name will not be associated with your electronic transfer and we would like to say “thank you” and send you a receipt for tax purposes.