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Cash and Securities
The simplest method of donating to the Museum is with an outright gift of cash or securities.
Cash
A gift of cash is the most popular way of supporting MoMA. If you itemize your federal income tax return, gifts of cash ordinarily are tax deductible up to 50% of your adjusted gross income (AGI) in the year of your contribution (with a five-year carryover for the excess not utilized). |
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Securities
Next to cash, appreciated securities that are readily marketable are the assets most commonly donated to MoMA. When you donate appreciated securities, you generally do not realize any capital gains tax. If you itemize your federal income deductions, you may also receive a federal income tax charitable deduction (up to 30% of your AGI with a five-year carryover) for the security's full fair market value if you have held it long-term (i.e., for longer than twelve months). If the donated securities were held short-term (i.e., twelve months or less), only your cost basis is deductible.
Because of the potential double tax savings, a gift of appreciated securities usually has a lower after-tax cost than an equivalent gift of cash. For example, let us assume you are in the top federal income tax bracket and own stock worth $10,000, which you bought for $2,000 and have held for longer than twelve months. If you sold the stock, you would be liable for $1,200 in capital gains tax on the $8,000 gain. By giving the stock to MoMA, you pay no capital gains tax and may receive a $10,000 charitable deduction, saving you as much as $3,500 in income taxes. Your tax savings are even greater if you factor in state and local income taxes. The cost of giving a dollar in stock, in this example, is only 53 cents. The cost of giving the same dollar in cash is 65 cents, more than a fifth higher.
| Stock gift to MoMA |
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$10,000 |
| Less Federal income tax saved @ 35% |
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($3,500) |
| Less capital gains tax saved @ 15% |
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($1,200) |
Actual cost of making gift (stock gift less tax savings) |
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$5,300 |
Cost of giving $1.00 to MoMA |
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$0.53 |
If you wish to maintain the composition of your stock portfolio, purchase the same securities in the open market. The newly acquired shares will then carry as their cost basis the current market value.
In addition to stock, you may donate bonds and mutual fund shares to MoMA.
If you are considering making a gift of securities to MoMA, contact the Office of Planned Giving for information on the proper procedures, including Depository Trust Company instructions.
Contact the Office of Planned Giving at plannedgiving@moma.org or (212) 333-6527 for further information and to receive our brochure, Your Gift of Securities to MoMA.
Pictured above:
Gold Diggers of 1933. 1933. USA. Directed by Mervyn LeRoy. Courtesy Turner Entertainment Co.
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