Giving securities can be an ideal way of supporting Consumer Reports. Your donation will help us deliver on our mission, and you may benefit from a charitable deduction equal to the full value of the stock.
If your stock is held in a brokerage account, your broker will need the following information to transfer your gift electronically:
Please contact Olivier Szlos at 914-378-2881 or email@example.com in advance of the transfer so that we can notify and coordinate with PNC Bank. We will need your name, your address, and the type of stock and number of shares you will be donating.
If your donation is from a mutual fund, please call Michael Rosburg at PNC at the number above with the CUSIP number that is used to identify securities. This information will ensure that PNC can receive the transfer and that we can acknowledge and thank you for your tax-deductible gift.
Donation of property or other assets can provide significant benefit to you and to Consumer Reports, especially when the property has appreciated in value.
If your portfolio includes any of the assets listed below, you may want to consider contributing it to Consumer Reports for superior tax benefits—now or through your estate plan.
- Real estate
- Art and collectibles
- Privately held shares (C Corporation, S Corporation, and limited partnership interests)
- Initial public offerings
- Private equity and hedge fund interests
Giving through a donor-advised fund (DAF) is an increasingly popular way for donors to make gifts to Consumer Reports and other charities.
If you have established a donor-advised fund, please consider including Consumer Reports among the worthy charities to whom you recommend support.
You can use the DAF Direct tool to the right to make a donation through your DAF at BNY Mellon, Fidelity, or Schwab.
CR accepts gifts from all DAF platforms. To make a gift, you just have to provide your name, your address and CR’s Tax ID# 13-1776434 along with the amount and the nature of the support (e.g. annual gift) to the charity that manages the fund.
If you do not have a donor-advised fund, you can establish a fund at a public charity through a gift of cash or assets and receive an immediate tax benefit for the full amount. Then, in the role of a donor adviser, you recommend charitable contributions to nonprofits such as Consumer Reports from the fund. This provides you with the time to make thoughtful philanthropic decisions while receiving an immediate tax benefit for the initial gift plus the added convenience of a public charity managing the fund and the distributions.
Per IRS regulations, you cannot receive goods or services (i.e. CR magazine or online access) in exchange for a gift made from your DAF.
Giving from your IRA is a smart way to achieve your charitable goals and receive income tax benefits.
To make a gift to CR from your IRA, follow these steps:
- Consider your finances and charitable goals. If you are or coming up to the age of 72 and face RMDs, factor in how receiving your RMD will impact your overall income and, therefore, your taxes.
- Contact your IRA trustee to find out more about its process for arranging qualified charitable distributions.
- Notify your IRA trustee that you want to make a qualified charitable distribution, and fill out the required paperwork from the trustee. Please instruct them to provide your name and address on the QCD paperwork so we can provide the required receipt needed for your taxes.
- The check should be made to Consumer Reports, Inc. and mailed directly to:
Attn: Shannon Miller
101 Truman Ave
Yonkers, NY 10703
- Contact us at 877-275-3425 when you’ve directed the gift. When we receive it, we’ll provide the required receipt.
Current tax law allows you to donate to your favorite charities, such as Consumer Reports, directly from your individual retirement account starting at age 70 ½. It’s called a qualified charitable distribution or QCD. These donations can be made from the following IRAs: Traditional, Rollover, Inherited, SEP (inactive only), and SIMPLE (inactive only). You cannot make a QCD from a 401(k), 403(b) or Keogh plan during your lifetime.
QCDs reduce your income that is taxed when you have to take required minimum distributions starting at age 72. You can make distributions up to $100,000 each year, and the amount will be excluded from gross income. One important note: under the new SECURE Act, you can make a QCD at age 70 ½ even though you do not have to take a RMD until age 72. In fact, if you think you will face significant taxes when your RMD begins at age 72, making QCDs beginning at 70 ½ can reduce the overall amount in your IRA.
If you are interested in making a gift of stock or other securities, giving through your IRA or through a donor-advised fund, please contact Olivier Szlos, especially in advance of any transfers. If you would like to donate property or other assets, please contact Amanda Das.
Information on leaving a gift in your will or creating a Charitable Gift Annuity can be found on our charitable legacy page
Gifts of Stock, Other Securities, IRAs, or Donor-advised Funds
Olivier Szlos, Associate Director, Major Gifts
Gifts of Property or Other Assets
Amanda Das, Associate Director