GIFTS OF STOCK
Giving a gift of appreciated stocks, bonds or mutual funds can be to your financial advantage. In most cases, you may claim a charitable income tax deduction for the full fair market value of the shares and avoid capital gains tax. Please consult your financial advisor to clarify the advantages.
- Please email Jay Gulitti, our Director of Development, at [email protected], and cc Anabela Perozek, our Treasurer, at [email protected] to let us know of your gift intention. Since brokers don’t always inform us about a gift, your direct outreach will ensure your gift is transferred and credited correctly.
- Please provide the following information:
- Full name of the Donor(s)
- Name of the stock
- Number of shares
- Date of transfer
- Name and telephone number of your broker.
- Intended use (Select one from the following options)
- Annual Fund (Operations)
- Endowment Fund
- General Endowment (Unrestricted)
- Hart Building & Grounds Fund
- Russell Scholarship Fund
- Please provide the following permissions to your broker:
- “Please direct the following Stock Gift on my behalf to Vanguard DTC #0062″
- Include the name of the stock, and the number of shares
- “The stock may be delivered electronically to Vanguard Investments, DTC#0062for deposit in the following:”
- Holt-Elwell Memorial Foundation
- Account Number: 65989569
- Federal Tax ID: 02-0261932
- “Please direct the following Stock Gift on my behalf to Vanguard DTC #0062″
- Valuation of Gift
- We set the value of the gift based on the closing price of the security(ies) on the day received into our account. Donors will receive a letter indicating the value of the gift received.
Please note: According to IRS tax code (Regulation 1.170A-1(b)), gifts of securities received via DTC will be acknowledged using the mean value of the stock on the day it is received into the Mowglis’ account.
