The remarkable rise of the stock market is another factor pushing charitable donations upward, said Amy Grossman, vice president of complex asset group for Fidelity Charitable.
“With the equity markets reaching record high levels, we see a continued rise in the number of corporate executives and employees using appreciated company stock to fund their charitable giving,” she said in a statement.
“By donating appreciated stock—and this can be publicly traded or privately held—donors get a triple benefit: the potential elimination of capital gains tax, a fair market value tax deduction, and the ability to give up to 25% to 50% more to the charities they care about most,” Grossman said.