You can donate cash, clothes or even a car. But did you know you can also donate part of your investment portfolio? So, if you’ve already cleaned out your “giving budget,” closet and garage, and you’re wanting to do more, considering donating some of your appreciated investments. And here’s why it makes a lot of sense.

Reduces tax burden for everyone

There are two ways to donate your appreciated investments. One way is to sell them and donate the proceeds. This means you will likely pay a long-term capital gains tax on the sale. But If you donate securities directly, not only is there no capital gains tax, the charity gets what you would have paid for them. You also get a tax deduction for the full fair market value. When the non-profit does sell your shares, they don’t have to pay taxes on it like you would.

Helps more people

Because of the tax benefits with donating appreciated investments, the charity gets to use those funds to help more people. What would have gone to the IRS is now giving aid to the causes closest to your heart. In 2017, donors from Fidelity Charitable (a donor-advised fund) gave over $60 million in disaster relief. 5 out of every 6 dollars went to the victims of Hurricanes Harvey and Maria.

Ready to take the first step?

Set up an easy way to donate your appreciated investments with Fidelity Charitable. They claim that “by donating these types of assets directly to charity, you generally won’t have to pay capital gains and you can take an income tax deduction in the amount of the full fair-market value, up to 30% of your AGI (Adjusted Gross Income).”

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Don’t let the traditional model of charitable giving restrict your generosity. Talk to a financial advisor about how you can use your portfolio to impact the lives of other starting today.