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Gift Of Stock

Gifts of appreciated property, such as securities, are an accepted alternative to cash. In many (if not most) situations, the full, fair market value of gifts of appreciated property is deductible. Additionally, taxes on capital gains are often avoided. As always, the particular tax savings depend on individual circumstances and must be discussed with personal financial and tax advisors. 

Charitable Gift Stock Transfer Instructions

The fastest way for a donor to transfer stock to the Library Foundation is via DTC transfer. This is electronic and does not involve paper certificates. Please contact us before you begin the stock transfer with the estimated date of transfer and number of shares being transferred. This helps us confirm your donation was received as intended. 

Brokerage: ProEquities

Contact: (206) 365-3000

Account Name: Kitsap Regional Library Foundation

Account Number: 5EQ-923422

DTC Code: 0443

IRA Charitable Rollover

If you are 70½ years old or older, you can take advantage of a simple way to benefit Kitsap Regional Library and receive tax benefits in return. You can give up to $100,000 per year from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution (QCD).

Why consider this gift?

  • If you reached the age of 70½ on or before Dec. 31, 2019, you can use your gift to satisfy all or part of your required minimum distribution for the year. If you turn 70½ on or after Jan. 1, 2020, you can use your gift to satisfy all or part of your required minimum distribution starting at the age of 72. (Note: The RMD requirement has been waived for 2020, per the CARES Act signed into law on March 27, 2020.)

  • Your gift will be put to use today, allowing you to see the difference your donation is making.

  • You pay no income taxes on gifts up to $100,000.

  • Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.

Next Steps

  1. Seek the advice of your financial or legal advisor.

  2. Ask your IRA administrator about making a direct transfer to Kitsap Regional Library Foundation or have the administrator send a check from your account to us.

Please note that Kitsap Regional Library and Kitsap Regional Library Foundation do not dispense legal, investment or tax advice. The information provided here is generalized and listed to illustrate the many ways of making a gift to support Kitsap Regional Library while accomplishing your personal objectives. Consult with your attorney or other advisors to make sure that the gift you choose makes sense as part of your overall estate plan.

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Investment Gifts

Gifts made from investment accounts can be a generous and smart way to support Kitsap Regional Library.  Learn more about how Gifts of Stock and IRA Charitable Rollovers help you reach your philanthropic goals while also providing certain tax benefits. 

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