One way that animal lovers can help the Michigan Humane Society continue to care for thousands of animals every year is by donating stock. For some stockholders, stocks may have been passed down to them from parents or grandparents, or they may have purchased them years ago. As the value of a stock increases or decreases over time, stockholders can choose to sell them to make a profit or to cut their losses. When choosing to sell a stock that has increased in value from the time of its purchase, stockholders are often faced with a high capital gains tax. However, if an appreciated stock is donated to charities like MHS, stockholders can avoid paying the capital gains tax and can use the donation as a tax deduction. Additionally, if the appreciated stock is held for more than a year before being donated, the stockholder can deduct the full fair market value of the donation. Individuals who choose to donate stock to MHS not only receive tax benefits but can have an opportunity to give in a greater capacity than other traditional ways.
One such compassionate individual, who is choosing to remain anonymous, sought to use their appreciated stock as a different way to give to MHS. Our longtime friend has always cared for animals and started volunteering at one of our shelters nearly three-decades ago. In addition to volunteering, they also opened their home to an MHS foster animal that shortly after joined their loving family. “I have always been an animal lover,” they said. “I couldn’t live without them; they make my day, every day.” Their compassion and dedication to aid MHS in helping animals were further cemented through their volunteer work. “You understand the need in theory, but you don’t really get it till you see it.” Knowing that there is always a need, the generous donor consulted their financial advisor and elected to donate the securities of their appreciated stock to MHS, for us to continue to save so many animal lives.
It is because of thoughtful donors like this that MHS can provide safe shelter and lifesaving medical care for abandoned, abused, and neglected animals. Thank you to our longtime friend for donating their time, opening their home and heart, and for their continuous generosity through the years. Just as animals bring them joy, their contribution makes it possible for MHS to bring joy to animals while they wait for their forever home.
If you or someone you know would also like to make a stock donation to help MHS brighten an animal’s day, please consult your financial advisor and reach out to our Gift Planning Officer, Paula Durant at 248-283-5633 or firstname.lastname@example.org, or our Major Gift Officer, Kristy Mitchell at 248-283-5646 or email@example.com.
Photo credit: Pexels