Are you looking for a beautiful return on your investments?

With strong stock market gains this year, we are receiving more requests from arts patrons about how to make non-cash gifts.
We’d like to offer some useful information.

Giving stock is easy, and it’s a great way to receive a tax deduction and avoid capital gains taxes.  But, there are a few things you should know.

It’s important that a gift of stock be made directly to a charity, rather than selling the stock and donating the proceeds.  For example, a donor with 10 shares of XYZ Company can transfer those shares directly from their brokerage account to the Florentine’s brokerage account, at Robert W. Baird.

Your broker will ask for the Florentine’s Depository Trust Company (DTC) number and account number, which we will provide upon request.

You may even be able to give directly from an IRA

In 2015 Congress made direct transfers from Individual Retirement Accounts (IRAs) to public charities a permanent part of the tax code.  With traditional IRAs, individuals age 70½, are required to begin taking minimum distributions. This mandatory distribution can create a tax burden, in some cases.  The IRA charitable transfer provision, established under the Pension Protection Act, allows those at least 70½ to donate up to $100,000 to charitable organizations directly from their IRA, without treating the distribution as taxable income.

To qualify for the IRA charitable transfer, the gift must come directly from your IRA administrator.  Your broker should make their check payable to The Florentine Opera Company and send it to:

Florentine Opera Company, Inc.
Attn: Charitable Gifts
930 E. Burleigh Street, Lower Level
Milwaukee, WI 53212.

In this case, simply tell your broker that the Florentine Opera is a qualified 501c3 Charitable Organization (our EIN is 39-1098132) and they will send a check on your behalf, directly to the Florentine Opera.

It’s always a good idea to consult your advisor, but we’re happy to answer any questions that you may have, too.

Our gift planning team is ready to answer your questions or to speak with your advisor.  Contact the Florentine’s Director of Advancement, Eric Lind at 414-291-5700 x225 or elind@florentineopera.org.