Just as June is known as the month for weddings, December is the month that many of us make financial contributions to our favorite non-profit organizations.
Besides the tried-and-true method of making a cash gift, there are other ways to make a contribution that can have a great impact. Please allow me to share one idea with you.
The donation of appreciated stock can be an excellent way to support the Mackinac Center while also providing additional benefits to you as the contributor.
For the past couple of years, with the major drop in the value of the overall stock market, contributing stock has not been the best approach for most people to consider.
Yet, this year we have seen a positive movement in the Dow Jones Industrial Average. Since Jan. 1, the stock market has gained 5.7 percent.
For those of you who may be thinking about making a contribution of stock to the Mackinac Center, here are a couple of thoughts to consider.
When making this type of contribution, not only will you help the Mackinac Center continue making Michigan a freer and more prosperous place, but you may also potentially benefit in two different ways. The first is the tax deduction of the actual cash value of the gift being made. The second benefit is the savings on your capital gains taxes. We would strongly advise that you consult with your tax adviser to see if the capital gains tax savings would occur in your individual case.
If you are interested in making a stock contribution to the Mackinac Center this year, please contact our office by noon on Thursday, Dec. 30. You can call our office any time between 8 a.m. and 5 p.m., Monday through Friday, at 800-224-3327. Let the receptionist know that you wish to make a stock donation, and we will handle your request directly through a Midland financial firm.
Thank you for considering investing in the Mackinac Center.