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.

  1. 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.
  2. 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
  3. 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#0062 for deposit in the following:”
      • Holt-Elwell Memorial Foundation
      • Account Number: 65989569
      • Federal Tax ID: 02-0261932
  4. 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.