Donate Stock
Donating stocks or securities allows you to deduct the full market value of the securities for income tax purposes – just as if you had made a cash donation. The added advantage is that you'll eliminate paying capital gains taxes for which you would be responsible if you sell the assets instead. Even if you exceed the maximum allowable deduction in the year of the gift, you may be able to extend the deduction over five more years. The transfer is easy. Anyone wishing to make a stock donation should request that his/her broker transfer the security to the McCollum Group at Wells Fargo Advisors. The specific information relating to our account is as follows:
Acct # 2685-0028
DTC # 0141
Contact: Malone Wade, Travis McCollum or Bill McCollum
Phone: 704-378-2293
e-mail:
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Please notify Administrative Assistant Beth Galen of the specific stock being donated so that we can trace the gift. Occasionally, stock is transferred to our account without any information relating to the donor. Obviously, we can’t acknowledge the gift if we don’t know the source. Thank you.