Did you know about Stock Monday?
As you already know, Giving Tuesday celebrates philanthropy around the world. November 29 is Stock Monday and is a new celebration of smart giving this year. While one day educates donors about this opportunity, you can donate this way any time! Chief Development Officer Clara Stokes explains why giving stock is a great option to consider especially during this holiday giving season.
“Many of our dedicated supporters are making the most of their end-of-year donations right now,” she explains. “You can make a big impact when you consider stock gifts.”
At this writing, the Dow Jones Industrial Average has increased more than 15% in value throughout 2021–making it a particularly great year to donate appreciated stocks to your favorite charity. Stock gifts are just as valuable as other financial gifts to CARITAS. When you transfer stock directly to a charity instead of selling stock to give cash, you can save money and give more at no additional cost, she explains. It helps your gifts to support nonprofit missions like CARITAS’s go even farther.
The two-fold benefit of donating stock:
- You can save on taxes: When you donate your appreciated assets, you avoid paying capital gains tax.
- If you itemize deductions, you can also take a charitable deduction for the entire donation amount.
How to Give Stock
Now is the perfect time to donate: For your gift to be eligible for your 2021 tax return, you must give by December 31, 2021.
Have Questions about Giving to CARITAS?
Contact Clara Stokes, Chief Development Officer: firstname.lastname@example.org or (804) 358-0964 ext. 305