 Hi everyone, I'm Brian Buckwalder with DAV and I'm joined by Jason Bellum the assistant director of DAV's personal philanthropy Philanthropy programs and fellow veteran and financial advisor at Edward Jones Sarah Bryce. Thank you both for being here today Right now is tax season and we wanted to share with everyone how you can both save big on taxes and Help veterans by building a stock to DAV We also want to answer some of your questions at the end of this conversation So please leave them in the comments below. Don't worry if we can't get to your question live though We're gonna be sure to reply to you afterwards. We'll go back through and And make sure we answer your questions that we have because this is a very important topic It's a very beneficial topic for a beneficial opportunity for you. So We'll jump right into this conversation Sarah first to start off just tell us a little bit about yourself and your connection to DAV So the military has been an integral part of my life my entire life if you weren't in the army you didn't come home for Thanksgiving and my husband was also in and We just love the armed forces and are super excited about it I first ran across DAV in my work with clients doing Charitable giving and helping helping them to find ways to use benefits and DAV helped us to Successfully track and target benefits that maybe other veterans were we're missing out on And as a financial advisor you've worked with hundreds of clients over the past ten years You know every financial situation is different though But can you explain how someone could benefit from donating stock to a philanthropic organization like DAV? Yeah, so when we're when we're talking to Veterans and clients alike and we're discussing what their options are Obviously being able to give back to an organization that's taking care of our brothers and sisters is is huge And so this giving giving to an organization such as DAV allows Veterans to give to organizations Reduce the amount of investments that they have or capital gains that they may be receiving later And and actually be able to view that in their lifetime those those contributions and where they're going Excellent and Jason, you know kind of Continuing on with that. What are some of the tax benefits someone can receive by making a stock gift? Yeah, absolutely. Thanks for having us Brian and I think Sarah just referenced that the Paying of capital gains is a big thing That I'll give you a quick example of I'm working with a donor that purchased a hundred shares of Apple stock in 2007 for three dollars and three cents a share So paid a little bit over three hundred dollars for those well those stocks now They are valued at over a little bit eighteen thousand dollars So they would be paying taxes on about seventeen thousand five hundred if not a little bit more Of that by making that donation to DAV They get a full income or tax deduction on their taxes if they're itemizing Which they are certainly are and then DAV gets the full value of that gift and doesn't have to pay taxes on it So that money is going to go directly to our free programs and services that are provided to our ill and injured veterans That's great. And I wish I bought Apple stock at three dollars a share but If you're just joining us, I'm joined by Jason Bellin with DAV's personal philanthropy programs and Sarah Rice She's a veteran and a financial advisor at Edward Jones Sarah talk to us a little more if you can about the current stock market in a situation where someone might want to consider Donating their stock to a nonprofit like DAV. I Think the beauty of the stock market is that it is a pendulum and it swings one way or another and it does not matter If your stocks have been appreciating this month or if they've gone down a little bit in value there is always there's always a way to to Give to the organization without without providing those capital gains to yourselves And it doesn't matter what the value of the stock is when you transition it It it still goes to great great resources and and great great organization like DAV And Jason you mentioned this briefly too that their stock gifts will help with DAV's programs and services that we provide What are some of those when someone makes a stock gift to the organization? What are we able to provide veterans? Absolutely As I mentioned our programs and services are provided to veterans at no cost Whether that is benefits assistance and the more than 1.1 million veterans that have entrusted DAV to as members, but the more than 12 million that have entrusted DAV of their benefits assistance over the course of our existence Whether it is the 500,000 Rides to medical appointments that DAV helps to coordinate through our transportation network voluntary services that Does a ill and injured or disabled veteran winter sports clinic in partnership with the VA? In Colorado and brings 300 veterans to miracles on the mountainside where lives are literally changed on a daily basis not only at the event but afterwards as well and so the employment department that helps to provide career fairs and Identify meaningful employment employers that want to hire veterans and their families and DAV host Those throughout the country as well as some virtual career fairs as well So we've got our transportation network our voluntary services employment department We have started a Patriot boot camp That connects entrepreneurs with veterans that are entrepreneurs that helps them how to help some learn how to scale their business and grow And we're proud to say that over the course of the last year we have intimate implemented a caregivers program caregivers are so important In supporting the veterans that might be disabled or injured and need assistance And we need know that we need to provide assistance to those caregivers as well connecting them with local resources that are available to them As well as other areas where they might be able to be assisted in their care caregiving needs That is just a brief snapshot of what DAV is doing on a daily basis with funds that are received to be able to help Continue to serve our veterans who have served us It's wonderful. It is a it is a wide breadth of services that DAV does provide and yeah Like you said these gifts really help us make sure that those those services are provided at no cost to veterans In just a few minutes or just in a moment here We're gonna open up to our our channels to ask questions in the comments So please make sure you do if we can't get to your question live Of course, we're gonna go back through after the end of this this live broadcast and answer those questions individually But before we get to questions from our comment section Jason Sara, is there anything else you'd like to add that I didn't ask? I think that it's really cool When we're talking about Gifting and and things that we could be doing to support organizations like DAV There are options if you speak to your tax professional and your advisor out there such as things that have to do with your RMD each year or charitable Charitable funds or trusts that can be developed so that your legacy can continue to support great organizations just like DAV Absolutely and Brian I wanted to add to that is is we try to make it as easy as possible For the donor themselves. We know that each financial institution Might have a little bit different Information that is needed to be able to facilitate the transfers We're happy to provide any information that they might need whether it's the DTC number the account number Any other contact information to be able to facilitate the gift? We have a group of experts that are ready willing and able to provide that information as needed and And look forward to having those conversations Great, and I'll put it up a couple times But before we do go we'll make sure that we get the the website. It's going to be in the Description below of this this live broadcast and there's also a phone number that people can call If they would like to talk to a gift planning advisor, that's 1-800-216-9802 and then press option 1 or you can go to DAV plan my gift org slash stocks Dash giving that is in the description. So either way we can connect you to one of our gift planning advisors Please if you do have any questions, please make sure they're in our comment section If we don't get to them again, we'll we'll get to them after this broadcast I do want to as we go as we get into these comments one of them that has come up frequently When people talk about this about stock donations is what sort of tax implications are associated with stock donations But I'll answer that and then I'll turn it over to Sarah I think when we talk about tax implications Each individual is probably going to be a little bit different. What what tax bracket are they in are they itemizing their? deductions on their tax returns They have Significant appreciation of those stocks that they actually lose money on those stocks So the best advice that we can give is to to coordinate or consult with a tax advisor Because they'll be able to help point each donor in a specific direction based upon the unique Circumstances that they have in filing their taxes But what again reiterating what we said earlier is that they don't have to pay those capital gains. That's one great tax Benefit and they they get the full tax deduction for the the cost or the value that DAB receives When when receiving the stock, but Sarah if there's anything else that you'd like to add Yeah, so every single person has a different goal or a different mindset or a different legacy strategy And maybe you don't aren't living in the legacy mode of Retirement or even your working years, but you still want to give to DAV These items aren't required to be after you retired these some of these items like Appreciable assets can be done during your working years for items that you've either inherited from a family member who you want to honor or From items that you've maybe purchased in your youth and think perhaps you don't want to to see that cost basis on Excellent and and I like one of these comments It's not a question, but more of a comment from the section here was to the just it seems like Financial education has become a part of veterans lives and it just shows the importance that there's There is a need that will allow People to be led into financial freedom. I like that idea. I like this You know leaving this legacy and and and just different parts in our life Were able to like you said give if we're able to I do have a question though too about how Could a charitable donation help like if I'm in a situation where I might actually need to spend down my assets Sarah would you like to address that first? So so working with your tax professional and your legal counsel when it comes to spending down your assets in retirement Right before right before you start to go on to a government service like Medicaid or Medicare Something like that of course you wouldn't want to consult with them But it's a beautiful way for you to be able to give those items with while reducing the total value of the assets that you own And with the right support from the right professionals from your tax person. They'll help you create a strategy to Provide that legacy Reducing your assets in the meantime and and still providing to a great cause Yeah, and I'll add on to that Brian I think that as Sarah recommended it working with their either legal counsel or tax strategy. There are certainly Outside of just donating the stock itself strategies of creating a donor advice fund Creating a charitable remainder trust that can not only provide income to them a charitable remainder trust to income to them for a portion of time And then the remaining amount going to a charity Or creating a donor advice fund and then being able to direct those gifts to to DAB to their favorite charity whatever it might be But there are definitely strategies that are out there to be able to do so Excellent and finally As we as we get ready to wrap up here. Are there specific types of stocks that can that can and can't be donated But I guess anything that's publicly traded usually can can be donated. I would say Some of the ones that are on off markets and things like that might be a little bit more difficult penny stocks That aren't traded regularly. I guess but DAB liquidates the the stock as soon as it's received And and then the next day those that the funding is going to help Fund our our programs and services. So it is an immediate help to the ill and injured veterans that we serve wonderful One of the things that I think it would be beneficial to know is that when you're working on Donating stocks or appreciatable assets. That's one one avenue and then of course during the rmd period You can also Send a gift directly from your ira or retirement account depending on what your tax situation is Of cash if if Stock is not a comfortable option for you at that phase of your planning Excellent. Okay. Well, thank you again both jason and sarah. This is an important topic. I I know that Stock gifts and just giving Helps organize our organization. It helps dav provide the the services that to men and women who serve If you would like to learn more about how you can donate stock to dav and save on taxes Please visit the link in the description Or contact our gift planning advisor Our one of our advisors the number is 800 2 1 6 9 8 0 2 and then just press option 1 And well, of course leave a recording of this live stream up on our social media channel So please feel free to share with others We'll take a look at those comments and answer any questions that we didn't get to today Again, thanks for joining us and have a great day. Thanks so much