Stock Gifts and IRA Rollovers

Stock Gifts

Stock gifts are tax deductible and are not subject to capital gains tax. Canopy can work directly with your broker or financial advisor to facilitate the gift.

The safest way to make a gift to Canopy is to transfer the shares electronically from your account to ours. Inform your broker that you would like to make a stock gift to Canopy, and provide the following information:

Brokerage Firm: Schwab (DTC #: 0164)
Account name: Canopy
(TAX ID # 01-0565752)
Account No.: 8693-9984

Please call Canopy first at 650-964-6110 x5 or email maika@canopy.org to let us know that you are donating stock. This allows us to acknowledge you and confirm receipt right away.

IRA Charitable Rollover

The IRA Charitable Rollover provision allows individuals who have reached age 70½ to donate up to $100,000 to charitable organizations directly from their Individual Retirement Account (IRA), without treating the distribution as taxable income.

Individuals may begin taking distributions from their Individual Retirement Accounts (IRAs) as early as age 59½, but are required to begin taking them at age 70½. Normally, these distributions are subject to income taxes.

The IRA Charitable Rollover provision was first established under the 2006 Pension Protection Act, and made permanent by the PATH Act in 2015. It allows individuals who have reached age 70½ to donate up to $100,000 to charitable organizations directly from their IRA, without treating the distribution as taxable income. In order to qualify, contributions must go directly to a public charity and be made from traditional IRAs or Roth IRAs. Donors may not receive any goods or services in return for their contributions, and will obtain written documentation of their contribution to Canopy.

Learn more about the IRA Charitable Rollover.