Confusion Abounds on Gifts of Appreciated Property
Many of your donors will be reading erroneous reports that their deduction for gifts of stocks, bonds, etc., will be limited to their cost basis only after May 31, 1997. The Small Business Job Protection Act signed into law by President Clinton affects only gifts of appreciated property to PRIVATE FOUNDATIONS.
The Sharpe company clearly spells out deductibility of appreciated gifts of property in “Taking Stock… and Giving It,” “Giving Securities,” and “Your Guide to Effective Giving in 1997.” Don’t let your donors be misled (or your institution lose valuable gifts) due to misunderstandings that you can clarify by sending them straightforward information.
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