Your generosity today ensures that you keep the soundtrack for Southern Arizona going and growing. Your gift of stock makes a tremendous impact in supporting the KXCI mission of connecting the communities of Tucson and Southern Arizona to each other and the world with informative, engaging and creative community-based radio programming.
KXCI accepts transfers of stock through our account with Waddell & Reed. The gift must be made in the name of The Foundation for Creative Broadcasting dba KXCI. In order to facilitate the assignment of the stock, it must be transferred via the DTC method.
Gifts of stock will be recorded on the day the stock is received in our brokerage account, at the median market value on that day. You will receive a written acknowledgment to confirm receipt of your gift.
So that we are aware of your gift, please notify The Foundation for Creative Broadcasting dba KXCI of your intent to transfer stock by completing the Notification of Stock Transfer to KXCI and email or mail it to:
KXCI Community Engagement Director
220 S. 4th Avenue
Tucson, AZ 85701
520-623-1000 ext 17 Office
Thank you for considering this important way to support KXCI Community Radio!
Please consult with your tax advisors to determine how, specifically, the charitable deduction will work for your unique tax situation.
Giving Stock – FAQ
Q: What are the benefits of giving stock?
A: You receive gift credit and, depending on your specific tax situation, you may receive an immediate income tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them. You pay no capital gains tax on the securities you donate.
Q: Securities fluctuate in price. How will my stocks be valued?
A: We will issue an acknowledgement letter indicating the high and low prices for the security on the date of its transfer to us. Your tax advisor will use this information to determine the value of the donation.
If the stock you donate is held by your broker, the gift date is the day the stock reaches our account.
Q: Is it difficult to transfer securities?
A: Not at all, and we can help you through every step of the process.
Q: Shouldn’t I just sell the stock first and contribute the proceeds to KXCI?
A: Even though you will receive a deduction, you will pay capital gains tax on the sale, eliminating a key tax benefit of your gift.
Q: Can I contribute stocks that have declined in value?
A: The fair-market value deduction rule works against you: if you bought the stock for $50,000 and it’s now worth $30,000, your charitable deduction will be limited to $30,000. You won’t be able to claim a capital loss by making the transfer to us, either. Instead, you are better off to sell the depreciated stock, claim the resulting tax loss as a deduction, then make a deductible cash gift to KXCI with the proceeds of that sale.