When you transfer ownership of long-term holdings to the FoodBank, you receive a charitable deduction for their full market value – and you incur no capital gains tax (subject to IRS deduction limits).
According to IRS regulations, the date of your gift corresponds to the date it arrives in our possession (for transfers from brokerage account to brokerage account). Following is the information necessary to transfer stock to our account:
- Donor name and address
- Name and number of securities transferred
Security Transfers & Wire Transfers: Please contact Diane Wojcik to obtain our information.
IRA Rollovers: You can transfer or roll over your IRA to the FoodBank. Please contact your financial institution directly to assist you with this process.
Donor-Advised Funds: DAF Direct enables you to recommend grants from your donor–advised fund, also known as a DAF, directly through our website. DAF Direct currently facilitates grant recommendations from donors of Fidelity Charitable®, Schwab Charitable®, and the BNY Mellon Charitable Gift Fund®.