Posted March 1st, 1997

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.

The publisher of Give & Take is not engaged in rendering legal or tax advisory service. For advice and assistance in specific cases, the services of your own counsel should be obtained. Articles in Give & Take may generally be reprinted for distribution to board members and staff of nonprofit institutions and other non-donor groups. Proper credit must be given. Call for details.

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