Donate to VBC
The question was raised this past spring on how Virginia Ballet might follow the example of other non-profit organizations, and benefit from the generosity of supporters who want to make a donation of stocks, bonds or some other financial asset. The advantage that makes appreciated securities such an excellent gift is that if they have been held long term, the donor can generally claim a charitable tax deduction for the full fair market value of the securities, and avoid paying the capital gains tax due if the security were sold first and the proceeds donated.
This summer the Board of Directors, with the assistance of USAA Financial Advisors, opened a special charitable organization brokerage account registered as Virginia Ballet Co & Schl Inc. The date of a gift is the date that it is received in the Virginia Ballet account and the amount is the mean market value on that day. The account has already been activated with an initial donation.
If you would like more information on how to make such a gift to Virginia Ballet, before the next bear market, while avoiding the IRS “cut,” leave a note for Rob Mirabello at the office (or an Email to email@example.com ).. Please note: The appreciated securities must be given to Virginia Ballet; if you sell the securities and donate the proceeds, you will not realize the tax benefits
President, Board of Directors