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When Kaitlyn was 8, her dad drained her mom’s bank account and took everything she had—her mom told him to pack his bags and get out of the house. Kaitlyn got off the bus one day after school with her brother and saw her dad had moved out and all that was left was a note. Kaitlyn was a daddy's girl so when he left, she was devastated. She didn't understand why he left because she was so young. She just knew she got home from school one day and her dad was gone.
Many donors to Barium Springs make outright gifts and pledges in the form of appreciated securities, rather than cash, in order to benefit from extra tax advantages. If you itemize, you are entitled to a charitable income tax deduction for the full value of your gift, provided you have owned the securities for more than 12 months. You avoid paying a tax on capital gains, which you would owe if you sold the securities. Gifts of securities are deductible for federal tax purposes up to a limit of 30 percent of your adjusted gross income.
To transfer stock electronically you will need the following information. Our broker is: Phyllis Walkowaik at Wells Fargo Advisors, LLC at (704) 442.6308 or (800).955.2522.
Please notify Barium Springs when a stock transfer has been made to our account, so we can properly credit your gift for tax purposes.