Taking Stock of Art and Nature
If you have investments that you’re thinking about divesting, consider using some to connect people with nature by donating them to Brushwood Center at Ryerson Woods. Gifts of appreciated stocks, bonds, or other securities can offer financial advantages in the form of a tax deduction and savings on capital gains taxes.
How does it work?
You transfer securities (stocks, bonds, mutual fund shares) to Brushwood Center by having your broker call us at 224.633.2426 and request the account and routing numbers for Brushwood Center’s investment account. When the securities are transferred, we sell them within five business days and the proceeds go into the general operating fund for Brushwood Center.
If you wish, you may designate a specific purpose for the funds, such as art exhibitions, outreach, education programs or renovation of the Brushwood home. More information about gift designations is available by calling Julia Kemerer at 224.633.2426.
What are the advantages?
At the end of the year you may claim an income tax deduction for the fair market value of the securities on the date they were transferred to Brushwood Center. (The securities must have been held in your name for one year or longer in order to be fully tax deductible.) Regardless of how much you paid for them originally, or how much they have gained in value since then, you will pay no capital gains tax on the donated securities. Brushwood Center doesn’t play the market. With our policy to sell gifts of securities within five business days, the proceeds of your gift go to work immediately to nurture art, nature and discovery at Ryerson Woods.
What about charitable donations from IRAs?
If you are 70½ or over, you might consider making a charitable donation to Brushwood Center directly from your IRA. Required annual distributions from your IRAs can be directly contributed to charitable organizations as tax-free donations. This is a convenient way to satisfy IRA distribution requirements, support charitable causes, and receive a tax break all at the same time. Consult with your financial advisor before making any gifts of securities. Let us know ahead of time that your gift is coming.
If you hold your securities yourself, rather than with a broker, you will need to follow specific mailing instructions, which we can give you when you call. Mutual fund transfers must follow the parameters of the fund and can take up to a month; please contact us for more information.
Brushwood Center at Ryerson Woods
21850 N. Riverwoods Road
Riverwoods, IL 60015
Tax ID: 36-3715155