HOW IT WORKS.
Transfer stocks, bonds or mutual funds that have appreciated in value to the Daughters of the Nile Foundation. The Foundation then sells your appreciated assets and uses them to further its Mission.
· You receive an income tax charitable deduction based on the fair market value of the asset on the date of transfer no matter what you paid for it.
· You pay no capital gains when the asset is sold.
· Many times the transfer of appreciated assets is better than cash because of the smaller investment you have in the asset and the use of fair market value as the basis of the charitable deduction.
The Foundation will also accept gifts of real estate under certain circumstances. Please review the Foundations Gift Acceptance Policy.
While bank accounts and certificates of deposit do not represent appreciated assets, they can be easily transferred to the Foundation. Examples of methods of transfer of Bank Accounts or C.D.s:
· Mary Smith or Daughters of the Nile Foundation, JTWROS
· Mary Smith, POD (Payable on Death) to the Daughters of the Nile Foundation.
· Mary Smith, TOD (Transferable on Death) to the Daughters of the Nile Foundation