In addition to cash donations, the B&O Railroad Museum gladly accepts gifts of stock or mutual funds.
A gift made with appreciated securities provides you with a charitable income tax deduction based on the securities’ fair market value. You must have owned the securities for more than one year. In addition, you avoid the capital gains tax that would have been due to the government had you sold the securities yourself.
It is generally not advisable to donate securities that have decreased in value. It is more to your advantage to sell the securities to establish a tax-deductible loss and then contribute the proceeds to the B&O Railroad Museum.
In addition to gifts of publicly traded, appreciated stocks and bonds, it is possible to make gifts of appreciated shares of privately held securities. A gift made with closely held securities will provide you with the same charitable deduction and capital gains tax avoidance benefits as will a gift of publicly traded securities. The B&O can elect to sell the donated shares back to the corporation and use the proceeds for the Museum.
Getting good advice is important. It’s always good to involve an attorney or professional that is experienced in estate planning.
Ways to show your support for the B&O Railroad Museum
To Discuss Giving options
Contact the Development Office at 443-627-2391 or email Development@BORail.org
