Using your appreciated assets can help you avoid capital gains tax. You can fund a gift to the Elk Foundation at full value compared to selling the appreciated asset, paying the capital gains tax and then making a gift with the amount left over. Appreciated assets can be used to fund a planned gift or an outright gift.
Donor:
1. Please have your broker contact Frank D’Angelo at D.A. Davidson toll free at 800-332-1615 or locally in Missoula, Montana, at 406-543-8244. Frank will then give the donor’s broker the “DTC” number for the transfer.
2. Frank will immediately sell the stock. The value of the gift will be the average of the high and the low for the day that the Elk Foundation takes ownership. Please realize that the Elk Foundation potentially may not take ownership for several days after the donor instructs their broker to gift the stock to the Elk Foundation.
Elk Foundation:
1. Please notify Michelle Tucker at 800-CALL ELK, Ext. 479 or mtucker@rmef.org and inform them of an estimate of:
- the type of stock
- how many shares
- the approximate value
They will also contact Frank D’Angelo at D.A. Davidson to give him a heads up as to what is coming in.
2. You should also complete a Habitat Partnership form or Life Membership form and mail it to headquarters noting that the gift is funded with stock.
3. The commissions and fees are paid by the Elk Foundation. They are not deducted from the value of the gift.
Any of the above information should not be considered legal, accounting or other professional advice. Please consult your own advisors.
The Elk Foundation’s legal address is:
Rocky Mountain Elk Foundation
P.O. Box 8249
Missoula, MT 59807
Our tax identification number is:
81-0421425
For more information, please contact:
Michelle Tucker
Major Gifts Coordinator
800-CALL ELK
Ext. 479
mtucker@rmef.org