Do you remember that stock or mutual fund that you bought sometime in 1996? It has grown in value and you are thinking about selling it and donating the proceeds to Maranatha. You could call your investment advisor and ask them to sell it. Here’s what would happen: First, the broker would sell the investment and deposit into your account. Then, when the funds were deposited into your account you would learn that they kept some percentage of the money for their fees and commissions. Sometime after the first of the year you would get a form stating that you had capital gains taxes and the IRS doesn’t usually write you a thank you letter.
However, if you called your financial advisor and asked them to transfer the mutual fund or stock directly to Maranatha, you would not be charged a broker commission. Instead, all of the money would show up in Maranatha’s account. From there, you would receive a letter full of heartfelt gratitude and the picture of a school, church, or water well that you enabled through your gift. In short, everyone wins—your well-being, the children who don’t have to walk two hours a day carrying water, and your taxes.
If we could help you with this or other giving options, please contact Shawnda McCaleb at (916) 774-7714.