A transfer of securities (stocks or bonds) held long term to the Mississippi College allows you to make a gift and receive a charitable deduction equal to the full fair market value of the securities. You pay no capital gains tax on your gift and neither does Mississippi College.
The best method of transferring these assets to the foundation depends on how they are held by you. Please contact Mississippi College first for help with the easiest method of transferring assets. Avoid selling the assets and then making a gift of the proceeds, because this will trigger a capital gains liability for you.
You may deduct the value of these securities for up to 30 percent of your adjusted gross income. Any excess can be carried over for an additional five years if necessary. For more information, please contact 601.925.3968.
