Through a broker: The stocks may also be delivered to a broker, but the delivery date will be when your broker delivers the stock to Mennonite Foundation.If your stock is registered in street name, the date of delivery is when you can no longer legally revoke transfer. There can be delays in the date of transfer.
Transfer of mutual fund shares: You write a letter to the mutual fund company asking them to transfer shares to a new account as a charitable gift for Mennonite Foundation. A Mennonite Foundation staff person can help you draft the letter. The letter must have your guaranteed signature when it is mailed to the mutual fund company. Mennonite Foundation may need to set up an account with the mutual fund company prior to receiving the gift. The gift date is the date the mutual fund company transfers shares to the Mennonite Foundation account.
What The Fuller Center receives
The Fuller Center is dependent on the generosity of donors like you. We are delighted to receive gifts funded by stock or mutual fund shares through Mennonite Foundation because it often makes the process easier for donors.
What you receive
You receive a charitable contribution tax deduction for the fair market value of your gift of stocks or mutual fund shares you have owned more than one year. You can use your deduction up to 30 percent of your gross adjusted income in the year of your gift with a five-year carry-over for any excess amount. You also avoid tax on any capital gains you have realized. In addition, you receive an annual statement of your fund donations. If your gift establishes a charitable trust or gift annuity, you or your beneficiary receive payments during your lifetime. And you get the satisfaction of knowing The Fuller Center will benefit from your generosity.
If you have questions or would like to talk more about planned giving programs, call Fuller Center headquarters at 229-924-2900.