Giving Through Your IRA
Giving through your IRA is a tax-efficient and easy way to ensure your hard-earned money will work hard for hungry Marylanders across the state. When you designate the Maryland Food Bank as a beneficiary, not only are there no estate or income taxes deducted, but you’ll satisfy the required minimum distribution.
A stock portfolio can be a valuable asset—one that may carry a substantial capital gain. With careful planning, you may be able to reduce your federal capital gains taxes by donating appreciated stock and securities directly to the Maryland Food Bank. If you are ready to make a gift of stock to Maryland Food Bank, you can follow the instructions below or download the PDF.
Provide your broker with the following information:
Maryland Food Bank (Tax ID #52-1135690)
901 S. Bond St., Baltimore MD 21231
Please give your broker permission to release your name and contact information to the Maryland Food Bank so that we may acknowledge you properly. Without your name, we will have no way of knowing where this generous gift came from. (If you wish to be marked as an anonymous donor in our donor publications, you or your broker may make this request.)
Upon receipt of the stock transfer, Brown Advisory will send a confirmation to the Maryland Food Bank confirming the gift date and the high and low trading price on the day of transfer. The gift value will be recognized as the average of the high and low trading price, and the gift date will be documented as the date of the electronic transfer.
The Maryland Food Bank will send you an acknowledgment letter based on the information provided by Brown Advisory, which will include share prices used to value the gift.
The Maryland Food Bank is registered as a 501(c)(3) nonprofit organization. Contributions are tax-deductible to the extent permitted by law. Tax identification number 52-1135690. The Maryland Food Bank provides general information only. For tax or legal advice, please consult a professional financial advisor or attorney.