Millikin accepts gifts of stocks and securities. You can use appreciated investments as charitable gifts, often realizing a substantial tax savings, and can designate funds to a specific purpose.
Appreciated assets have a higher market value than their basis or tax purpose value (which is, in most cases, their cost). You receive a charitable tax deduction based on the current market value of the gift and avoid tax on any capital gains. Millikin sells the asset, realizes the full market value and, as a nonprofit, does not have to pay tax on any capital gains.
You should seek the advice of financial and tax professionals for your specific situation.
Contact us for more information.