Thomas has been a CBN partner for many years. This year he chose to donate stock to CBN rather than writing a check to fulfill a commitment.
He arranged with his broker to make a wire transfer directly to CBN from his brokerage account for an energy stock that more than doubled since he purchased it in May of 2009 at a cost of $2,148.
"I completed the required broker Letter of Instruction and Authorization form to make the transfer. By giving this stock I by-passed the capital gains tax on the appreciation and will receive a charitable deduction for the fair market value of $4,594 at time of transfer. I plan to re-invest the tax savings and start the process over again by investing wisely, seeing it multiply, and receiving a blessing for purposeful giving."
He arranged with his broker to make a wire transfer directly to CBN from his brokerage account for an energy stock that more than doubled since he purchased it in May of 2009 at a cost of $2,148.
"I completed the required broker Letter of Instruction and Authorization form to make the transfer. By giving this stock I by-passed the capital gains tax on the appreciation and will receive a charitable deduction for the fair market value of $4,594 at time of transfer. I plan to re-invest the tax savings and start the process over again by investing wisely, seeing it multiply, and receiving a blessing for purposeful giving."
