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The Maritime
Virtual Art Museum

SEE THE SPECIAL Exhibits on display now in the SSHSA Maritime Virtual Art Museum.   MORE >

publications


PowerShips

The authoritative magazine of the history of engine-powered vessels and the legacy of man's journey on the world's seas and waterways.

In this issue:

  • The Wilfred Sykes
  • Messageries Maritimes’ Three Musketeers
  • Sailing British India
  • Post-war American Freighters
  • Tribute to Andrew Sykora

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Featured in the SSHSA Bookstore

SS Independence/SS Constitution
Visit the SSHSA Bookstore to see the Extraordinary Historical Books Now Available... MORE >
 


Funding for the SSHSA educational outreach program is made possible in part by a grant from the Rhode Island Council for the Humanities, an independent affiliate of the National Endowment for the Humanities.

Gifts of Cash, Securities, and Property

Cash

Cash is the most direct way to make a gift toward achieving the Society’s mission. Gifts are tax deductible to the extent allowable by law.

Credit Card

We accept donations paid by Visa, MasterCard, and Discover Card as well. If you would like to set up a recurring credit card donation, please download and return the Recurring Credit Card Donation Authorization Form

Securities

These investments may make excellent gifts for many donors to consider. When a person owns securities that have a long-term gain and gives them to the Steamship Historical Society of America, they are received at the current fair market value. The donor is able to deduct as a gift on his or her federal income tax return the full fair market value of the securities and avoids all capital gains tax.

The Steamship Historical Society of America will acknowledge your stock gift as follows:

  • Certificates—On the date the shares are delivered to a Steamship Historical Society of America representative or on the postmarked date when mailed.
  • Electronic (DTC) transfer—On the date the shares are received by the Steamship Historical Society of America’s broker.

We also have information about gifting securities via wire transfer.

Please contact our office at (401) 463-3570 for instructions on gifts of physical stock certificates, direct registration shares, closely-held stock, stocks held on a foreign exchange, or mutual funds.  When contemplating year-end gifts, please note that gifts of mutual funds may take up to six weeks to complete.

Property—Real or Personal

Real estate may be given outright or with the donor retaining a life estate contract. If the gift is irrevocable, certain immediate tax benefits are obtainable, and the donor can continue to live in the property for the rest of his or her life. Other types of property would include giving rental or business real estate (either as an outright gift or retained life income); business inventories, assigning royalties for minerals, inventions, or copyrights, agricultural resources, antiques, paintings, etc.

Gifts of Appreciated Securities vs. Gifts of Cash

Suppose that you would like to increase your annual contribution to SSHSA from $2,500 to $5,000.  Ten years ago, you purchased 200 shares of XYZ stock at $5/Share for $1,000.  That stock is now worth $25/Share or $5,000.  If you sell the stock outright, you will incur a taxable capital gain of $4,000.  

However, by making a gift of this stock to SSHSA, you accomplish several things.  First, you avoid having to pay a capital gain tax (usually a minimum of 15%).  Second, you are able to take a charitable deduction for the full market value of the stock on the day it is transferred to SSHSA.  This means you increase your annual gift to SSHSA by $2,500 with an after-tax cost increase of only $1,025 over your prior $2,500 cash gift ($2,650 vs. $1,625).*

Please note that the benefits of making such a gift may be fully realized only if you have held the shares 12 months or longer.  Consult your tax advisor for assistance.

* This example assumes a 15% capital gains rate, a 35% income tax rate, and inclusion of income and capital gains taxes avoided by the donor.

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