As you probably know, we continue to thrive thanks to your generosity. Each year, we benefit from the thousands of hours donated by volunteers for James River Park System events and improvements. Every person who has registered their vehicle with a FOJRP license plate has helped. Many have made a tax-deductible donation to our Living Memorial Giving Fund, providing for the purchase of native trees, shrubs and flowers. And, of course, there are those who directly donate.
Another way to support our efforts is through the donation of stocks and other marketable securities. These donations help to sustain our long-term efforts.
Make no mistake – we’re not a major university trying to create a massive endowment. When donors give us the gift of stocks and securities, we’ll strive to liquidate those assets immediately. We’ll maintain an investment account to facilitate those donations, and that account will undergo a regular audit. Our finance committee will be clear and transparent with those transactions and communicate that to our stakeholders.
Donating stocks can also be beneficial for you. When you donate stock, you actually give more than if you donated cash. Like almost every donation to charity, it’s considered tax-deductible, and by donating stocks you are able to deduct the full market value at the time of donation. This can help avoid the capital gains taxes you would owe if you sold the stock and donated the cash proceeds. Most funds also use a “donor-advised fund,” making a donation of stock easy, without the hassle of tons of paperwork. You can learn more about the benefits of stock donations here.
For many, a donation honors a loved one. For some, it reflects their commitment to the James River Park System. Donating stocks and securities offers another way to show that you appreciate what the Park is today, and what it could be in the future.
If you have questions or would like to arrange this type of donation, Executive Director Josh Stutz would love to hear from you.