Securities and mutual funds that have increased in value and been held for more than one year are popular assets to use when making a gift to the Metropolitan Opera. Making a gift of securities or mutual funds offers you the chance to support the opera while realizing important benefits for yourself.
When you donate appreciated securities or mutual funds in support of the opera, you can reduce or even eliminate federal capital gains tax on the transfer. You may also be entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.
Securities are most often given to the Met as:
An outright gift. When you donate securities to the Met, you receive the same income tax savings that you would if you wrote a check, but with the added benefit of eliminating capital gains tax on the transfer, which can be as high as 20%.
A transfer on death (TOD) account.* By placing a TOD designation on your brokerage or investment account, that account will be paid to one or more persons or charities after your lifetime.
Additional ways to fund your gift:
- A gift in your will or living trust.
- A donor advised fund.
- A memorial gift.
- An endowed gift.
- A charitable gift annuity.
- A charitable remainder trust.
- A charitable lead trust.
*State laws govern transfer on death accounts. Please consult with your bank representative or investment advisor if you are considering this gift.
