Donating stock or securities is an excellent way of saving on taxes and maximizing your donation. When you donate appreciated stock or securities instead of cash, you will not need to pay capital gains tax on those securities, Masjid Uthman will receive the full fair market value of those securities, and you will also receive a tax deduction for that full fair market value. (You may even repurchase those same securities in a subsequent transaction at a similar price without having to pay capital gains tax.)
You can process a stock or security donation by following the instructions below:
Email Masjid Uthman at info@masjiduthman.org to inform us of your intention to donate stock or securities. In the email, provide us with the following information:
Authorize your broker to transfer the stock by providing them the following information:
Once you have authorized your broker (in step 2 above), we should receive the donated stock or security shortly. We will email you after confirming receipt of that in our brokerage account.
