One of my main goals is to help spread awareness about BHF among the East Coast diaspora, especially among those of us who arrived in the United States pursuing an education and are now looking for meaningful ways to reciprocate and give back.
We started in New York, where we currently have a flourishing and supportive BHF community and are looking for additional opportunities to expand our efforts locally in Boston, Philadelphia, Florida, Chicago or other regions with a vibrant Romanian presence.
I would like to remind everyone that many employers (especially financial institutions) will also match your donations—often 1 to 1, or even 2 to 1. We should not miss this opportunity!
In addition, for the first time ever, we have set-up a commission free account to accept donations in appreciated securities, like publicly traded equities. Donating long term held and highly appreciated publicly traded stocks can be among the most tax advantaged items to donate to charity, because it may enable the donor to potentially avoid the capital gain tax liability associated with the sale of the stock, while the foundation receives the full value. Thus contributing the securities directly to the charity instead of selling first and donating the cash proceeds, usually increases the amount of your gift as well as your deduction.
So for illustrative purposes assuming you bought stock for $1,000 that is worth $3,000 today and that you held it for longer than a year. If you sold for cash today you would usually owe 23.8% federal capital gain taxes on the $2,000 appreciation (plus potentially additionally state and local taxes). If you donate the stock directly instead, the foundation would receive the stock and sell it tax free thus realizing the full value of $3,000, while you would generally be able to deduct the full $3,000 (assuming the donor itemizes).
Some people think that donating stock is a huge hassle that can take a lot of paperwork and phone calls to figure out, but we have streamlined the process and it is easier than you think.
If any of you would like to contribute by donating stock, please let us know.
VP of Fundraising and Community Outreach, West Coast