A Stock Quiz
Here's a little true/false quiz to test your knowledge about using publicly traded stock to make a charitable gift to St. Anthony Tri-Parish Catholic School Foundation. Good luck.
- ____ Only stocks traded on the New York Stock Exchange can be used to make charitable gifts.
- ____ For tax purposes, it is normally better to sell long- term appreciated stock and give the cash to St. Luke Foundation.
- ____ The value of a stock gift is determined on the date when St. Anthony Foundation receives a letter from the donor indicating his or her decision to make the gift.
- ____ If you buy stock in January and in three months it doubles in value, you can give the stock to St. Luke Foundation in June and avoid paying capital gains tax on the appreciation of the stock.
- ____ It is normally better to give stock that has depreciated in value rather than stock that has appreciated.
- ____ For tax purposes, the value of a stock gift equals the amount of cash received by St. Anthony Tri-Parish Catholic School Foundation after it sells the stock.
- ____ Most stock gifts require legal assistance to complete.
If you answered all of these questions "false" you may move to the head of the class. On the other hand, if you used the "T" word, or were unsure of any of your answers, contact Paula Gillette (307) 234-2873 to find out how you can give gifts of stock and how easy these gifts are to complete.
