Gifts of Stock, Property or Securities
Making a gift of stock to the Connecticut Challenge is a generous and smart way to donate, and may provide you with a greater tax benefit than a cash donation.
Your broker can assist you in making a gift of stock via a direct transfer to the Connecticut Challenge. The best stocks to donate are those that have increased greatly in value, particularly those producing a low yield. Giving a gift of stock that has increased in value and that you have owned for more than one year may provide a greater tax benefit to you than giving cash.
Your charitable income tax deduction is equal to the fair market value of the stock and you avoid paying the capital gains tax on any increase in the current value over the original cost of the stock.
You may also save by not incurring brokerage fees because you are transferring ownership rather than selling the stock.
Even if it is a stock you wish to keep in your portfolio, by giving us the stock and using cash to buy the same stock through your broker, you will have received the same income tax deduction but will have a new, higher basis in the stock.
If you would like to make a gift of stock to the Connecticut Challenge, please note the following information:
Brokerage House: UBS Financial Services
Account Name: Bike Across America, Inc., dba Connecticut Challenge
Account Number: UN5285124
Financial Advisor: Chris Gachi
Telephone number: 800-243-4121 x 1044
DTC Number: 0221
Please notify the Connecticut Challenge directly prior to making your stock transfer so we can ensure smooth processing of your gift and promptly provide information regarding your tax deductions.
Phone: 203-353-7690
Email: info@ctchallenge.org
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