EVEN "BAD" STOCKS CAN DO SOME GOOD
Have you considered using stock that has dropped below your purchase price to make charitable gifts? Doing this allows you to both receive the charitable deduction for the gift value and you may also claim the difference between the purchase price and the depreciated value as a loss on your tax returns.
If filing individually, you may deduct a capital loss of up to $1,500 a year; married couples filing jointly may deduct a capital loss up to $3,000. If you have capital gains on other securities your deductible loss may equal up to the amount of gains plus the $1,500 or $3,000. (Capital losses greater than the annual limit may carry over to future years.)
Example: A married couple purchased stock for $10,000, and it is now worth $7,000. They have their broker sell the stock and make a gift of the proceeds to Moravian College. The couple receives the $7,000 charitable deduction for the gift and claims the $3,000 loss on their taxes. They have removed the asset from their portfolio and still receive benefits equal to the original purchase price.