Posted by Susan Veligor on November 24, 2014
This is the time of year to think about gifting to your favorite charity or charities using stock or mutual funds you own that if sold would create an income tax liability to you. By giving directly to a charity you receive a deduction for the full value of the gift and bypass any tax you would otherwise owe if you had sold this stock or mutual fund yourself.
At Cornerstone we donate 1% of our gross revenue on an annual basis to a variety of organizations. This year we added a new one: Maine Farmland Trust (MFT). MFT started in 1999 with the goal of protecting farmland through agricultural easements. Their mission has expanded over time to include not only protecting farmland but keeping farms viable and profitable, helping new farmers through a buy/rent/lease program, and they also are engaged in public outreach as well as influencing public policy. You can read more at www.mainefarmlandtrust.org