I have a confession, not exactly a sin, but not something I’m not particularly proud of. It’s that I’m not very good with money. I don’t mean that I’m a reckless spender, I’m actually rather frugal; it’s just that I don’t understand things like monetary policy and the stock market. And since my entire career has been in the non-profit sector, I never thought I’d need to understand much more than balancing budgets.
But when I was Treasurer of the Board in 2019, Jake and Linda (z”l) Kriger made a generous donation of “appreciated stock” to CCM. Following Linda’s tragic passing this year, Jake made another generous donation of appreciated stock to honor Linda’s memory. And so, I have had to undergo a quick education in financial literacy. Jake has been kind enough to provide his guidance in the hope that his leadership gift will promote and encourage others to donate appreciated stock to CCM, our non-profit organization.
In case, like me, you don’t know much about this, or hadn’t thought of appreciated stock as a smart way to support the organizations you value, here’s how it works: Let’s say you bought 100 shares of stock for $10 per share some time ago. That stock today is worth $30 per share. So you spent $1,000 but now the stock you hold is worth $3,000 (it has appreciated $2,000). If you donate the appreciated stock, the organization gets $3,000, but you only spent $1,000. Moreover, if you sold the shares yourself to take the profit you have made, you would have to pay income tax on the $2,000 profit–but if you donate the shares, you pay no tax on that profit plus you get the tax deduction for the donation from your total income for the year. So there is a double savings, and a way for you to increase your giving potential. CCM is a non-profit organization that pays no income or business tax. CCM has paid a modest fee to set up an account at a Financial Services company, so we already have the mechanism in place to receive transferred stock.
Please reach out to me (firstname.lastname@example.org), or to our Treasurer Marty Jacobs (email@example.com) if you’d like to explore this method of giving to CCM. Whether you have 2 shares of stock to give or 1,000, we would be delighted to talk with you and guide you through the rather simple process of donating to CCM and benefitting your own income tax liabilities.
Your donations ensure a vibrant future for CCM. What you contribute to our nonprofit goes directly into our programming, expanding our offerings, providing student scholarships, developing our online presence, fortifying our administrative structures, and ensuring that we bring the gifts of Mussar to a world in need.
Wishing you a New Year filled with peace, abundance, love and good health,