Become a monthly financial partner! The ongoing sustainability of our ministry depends on people like
Checks can be mailed to 250 S Pacific Ave. Pittsburgh, PA 15224.
For special donations, call 412-414-2993.
Did you know that you can donate stock or many other types of investment securities to a charitable organization such as Earthen Vessels Outreach (EVO)? If you own shares of stock that you purchased in the past at a lower price, you can donate the appreciated stock and, then itemize, you take a deduction on your income taxes for the full market value (subject to limitations) on the date of the gift. This can be a huge tax advantage to you, and greatly help Earthen Vessels Outreach with their mission to build social, racial and economic bridges with the youth and families in the inner city of Pittsburgh to transform them into successful, contributing and functioning members of society.
Here’s an example: Five years ago you bought 100 shares of Procter & Gamble Co. at $48 per share for a total investment of $4,800. Today the stock is worth $64 per share for a total of $6,400 … a gain of $1,600. If you sold the stock today, you would have to pay long-term capital gains tax on the $1,600 gain. However, if you donate the stock to EVO (a 501(c)3 charitable organization), you may be able to claim the full value of the stock as a deduction on your income taxes, thus reducing your tax burden for the year. Neither you nor Earthen Vessels would have to pay tax on the capital gain!
This is a great way to help Earthen Vessels continue our work reaching out to inner-city children and their families, while using this tax-advantaged strategy to lower your income taxes for the year. For more information on donating securities to EVO, call Troy Wallace at Stifel Nicolaus & Company, Inc at 800-238-3712. As always, consult your tax professional prior to making a decision.