Donating Stocks and Bonds to Project Underground

Giving stocks and bonds to Project Underground can make a measurable difference in the protecting indigenous peoples and their lands from environment-destroying corporations.

It is supporting the belief that people have a right to their ancestral lands.

It is supporting the notion that oil and mining corporations need to be responsible for protecting and caring for the environment instead of its destruction.

It supporting the sharing of expertise and respect for civilizations that are different from ours.

Tax Benefits of Giving Securities to Project Underground

Gifts of appreciated securities generate a double tax benefit. In addition to receiving an income tax charitable deduction for the full market value on the date of transfer to Project Underground, you avoid potential capital gains tax on the assets. The maximum capital gains tax on securities owned for 12 months or more is 20 percent.

You will receive a charitable tax deduction of 30 percent of your adjusted gross income (AGI) for the full market value of the stock in the year the gift is made to Project Underground. Larger gifts may provide tax savings in more than one year for up to five years.

Note:

If you are considering a gift of property or assets that have declined in value, you may be better off selling the property to realize deductible loss and then contributing the proceeds. This assures the deductibility of the loss.

Also in order to avoid the capital gains taxes, you must transfer the stock or security to Project Underground. If you, your broker or mutual fund administrator sell the securities first and mail us the proceeds, you will be liable for any capital gains!

 

To Transfer Stock

The procedure for transferring stock is simple.

1. If you have the stock certificate in your possession, please sign a stock power in the indicated spot and turn in both to us. Do not fill in the name Project Underground anywhere; we will take care of that for you. Call us at 510 705 8981 if you want us to send you a stock power.
2. If you have stock in a brokerage account, send the note below to your broker indicating your desire to gift stock to Project Underground, Account#___________, at Progressive Asset Management. The broker should contact Mark Zoidis (510) 655 6811 for specific electronic transfer wire instructions.

Note to Broker

Dear _________,

I would like to gift ____________ (#) # shares of ____________________________ to Project Underground in Berkeley, California. Please contact Mark Zoidis at (510) 655 6811 for electronic wire instructions. Thank you.

Sincerely,

 

 

Your name

You will receive a grateful acknowledgement indicating the value of your gift for tax purposes using either method described here.

Project Underground
Tax ID 943287971
1916A Martin Luther King Jr. Way
Berkeley, CA 94704
(510) 705 8981