Stock The purchases you make during the Festival of Trees may be purchased with gifts of stock, which allows the bidder to purchase items without depleting cash reserves. By giving stock directly to Providence Community Health Foundation, the bidder avoids capital gains taxes while generally still receiving full benefits of deductibility between the fair market value and the price paid for the items. The Safeway Providence Festival of Trees, Providence Health & Services and Providence Community Health Foundation make no representation as to tax deductibility. Please consult your tax advisor in this regard. The steps for transferring gifts of stock are simple. After the Auction 1. You will be contacted Thursday to confirm where to delivery of large tree or pick up of other items. At that time please notify the Foundation staff that you intend to purchase your auction items with stock. We will hold the credit card on file until the stock has been transferred and sold. 2. By the Monday following the auction, contact your financial advisor to discuss which stock(s) you would like to donate. Generally those most appreciated in price are the best candidates, especially if you consider them to have achieved full value and would otherwise consider selling them. 3. To begin transfer of stock, please contact D.A. Davidson at 541-608-4360. Providence Community Health Foundation will sell the stock immediately upon receipt and will send acknowledgment for the difference between the fair market value of your purchase(s) and the value of the stock. 4. If you do not notify your financial advisor and do not begin the transfer process by one week from the auction date, 12/11/2020, your credit card will be billed directly for the amount due. Any amount not covered by your gift of stock will also be billed to your credit card.
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