David

“DONATING STOCK IS A GOOD DEAL”

Habitat for Humanity of Greater Newark volunteer David says that volunteering with Habitat of Greater Newark proved to be a great way to give back to the community after he retired. “After a long career in desk jobs with Citicorp and Deutsche Bank, and volunteer work which involved budgets, procedures, and programs, I was ready to do some hands-on work, and Habitat was the perfect fit for me.”

David rapidly became much more than an occasional volunteer. “During high school and college, I worked as an electrician and in the trades. After a few volunteer sessions, I spoke to the Construction Manager at the time and told him I wanted to be a regular volunteer, so we set up an arrangement where I could just call and find out where the team would be working, and I could join any day I wanted. Then, I started helping out as a sort of team leader when big corporate groups would come to volunteer.”

David also donated stock to Habitat of Greater Newark, and says the process was very easy. “I just called my broker and gave them the contact info at Habitat, and they did the stock transfer.”

If I donate stock that has gained in value since I purchased it to Habitat, I don’t pay capital gains tax on it—so the stock is worth its full value as a donation.”

David, Habitat of Greater Newark volunteer and donor

“Donating stock only makes sense if it’s appreciated stock, that is, stock that is worth more now than when I bought it.  If I were to sell stock that had appreciated, I would then pay capital gains tax on that sale, but if I donate the stock to Habitat, I don’t pay capital gains tax on it—so the stock is worth its full value as a donation.”

Interested in donating stock? Contact Danielle Sanchez at dsanchez@habitatnewark.org. Habitat of Greater Newark’s specific mission means that our staff welcomes gifts that most nonprofits would deem unusual. You can donate real estate such as vacant lots, homes in need of repair, or even condemned sites that must be razed. You can also make in-kind donations of construction materials. You can even donate your car.

Contact Danielle Sanchez at dsanchez@habitatnewark.org for sponsorships, one-time or recurring gifts, or gifts on behalf of a loved one, employee giving, in-kind donations, or donating your car.