Gifts of Securities

The best stocks to contribute are those that have appreciated greatly in value, over at least twelve months. Such gifts may provide a double tax benefit. You may receive a charitable income tax deduction for the full fair-market value of the property and may not pay potential tax on the capital-gain element of the gift.

For example, you might wish to give stock now valued at $25,000 that you purchased five years ago for $15,000. Your charitable contribution tax deduction for this year would be the full current fair market value of the stock, or $25,000. You also would avoid paying the capital gains tax on the $10,000 appreciated.

If you wish to give a gift of shares or stock, please provide your broker or financial adviser with this transfer information.

Friends of Detroit Rowing
Broker: Oppenheimer & Co. Inc.
63 Kercheval Ave Suite 300
Grosse Pointe Farms MI 48236
Account: B38-0079257
DTC: 0571

Retirement Plans and IRA’s

For many of us, retirement plan assets may be the single largest asset in our portfolio. This is a form of gift we may use both in our lifetime and afterwards as part of our permanent legacy.
The easiest way is to obtain a beneficiary designation form from the retirement plan administrator and name Friends of Detroit Rowing as the entire or partial beneficiary of your retirement plan. This may avoid federal estate-tax liability because of the inclusion of the charitable deduction.

You may also make current cash gifts directly to Friends of Detroit Rowing from your IRA. While no charitable deduction is allowed, the gift is excluded from gross income, and reduces your required minimum distributions, for tax computations.
You are eligible to contribute this way if:

  • You are age 70 ½ or older.
  • Your qualified charitable distribution from your IRA is $100,000 or less each year.
  • You transfer funds directly from your IRA to Friends of Detroit Rowing .

Work with an Advisor

The information provided in Friends of Detroit Rowing ’s materials is not intended as legal, tax, or investment advice. Please consult your attorney, tax professional, or investment professional.