Use the form at the bottom of this page to make a direct tax deductible donation and/or scroll down to learn how easy it is to make a tax deductible donation of stock to the Grove Park Neighborhood through Charityvest. 
 

 

1. What is Charityvest?     Think of Charityvest as your own personal philanthropic account.

 

2.  How does it work?     First you create a giving account at www.charityvest.org. Next, you deposit cash, stock or cryptocurrency into your charityvest account. There are no minimum amounts but if you choose to make regular deposits to your account the minimum recurring deposit is $20.

 

When you want to make a financial gift to an IRS-recognized charity, you notify charityvest you want to give a specific amount to a specific charity, and they send the charity a check within a week. The money comes out of your account, much like it would from a savings account.

3. Why should I go through charityvest? I can make donations on my own.  Charityvest allows you to give stock or cryptocurrency to a big or to a tiny nonprofit organization (tiny like GPSMNA). Small organizations do not have the resources to process stock donations on their own. Charityvest processes stock donations and does not charge fees.

 

4. Is there a tax advantage to donating stock?    Yes. Stock (or cryptocurrency) that has appreciated can be donated directly without incurring a taxable event. In other words, you don’t have to sell the stock first to donate the cash from the sale. Charityvest does that for you. And, if you’ve held the stock longer than one year, you get to tax deduct the entire amount.

 

EXAMPLE:  Two years ago Sam purchased 10 shares of Google stock at $20/share, for a total price of $200. Now his Google stock is worth $140/share. Rather than sell the stock and incur capital gains tax on the profit (Today’s value $1400 minus initial investment of $200, or $1200 gain, subject to long term capital gains tax), he decided to gift all 10 shares to his favorite charity. So he paid $200 for a donation that is now worth $1400. He is eligible to take a charitable tax deduction of $1400 since he held the asset longer than a year, even though it only cost him $200.

5. Is there a minimum amount?    To open an account there is no minimum. If you choose to make regular contributions to your account (basically a savings account you later use for charitable donations), the minimum deposit is $20. The minimum donation to a charity is also $20.

 

6. Does charityvest charge fees?    No. No fees are charged to you or to the charity to open or maintain an account.

 

7.  So how does charityvest make money?     The point of charityvest is to maintain an account out of which you make donations. Participants may have anywhere from $20 to thousands of dollars in such an account. In this case, charityvest functions like a bank and makes money from the deposits that are maintained.

 

8. I don’t want to leave a lot of money in a savings account at low interest.  Charityvest offers the option of managing your account like an investment account. As your investments grow, you have more money to donate to charities.

 

9. Are there minimum donations?    Yes, but the amount is small. The minimum donation is $20.

 

10. Any other advantages of charityvest?    You can research advantages by perusing their website. One notable advantage is you can give to numerous non-profits of your choice out of one account. Charityvest will send you an end-of-year receipt with all donations listed. The summary receipt can be used for tax purposes