| Stock and Mutual
Funds
Gifts of appreciated securities are generally
more cost effective than gifts of cash. A gift of stock with long-term
gain may entitle you to a charitable deduction for the full fair
market value of the stock and is exempt from capital gains tax.
For example, if you acquired stock for $1,000 and the current fair
market value is $5,000, you may be eligible to deduct the full $5,000
and escape tax on the $4,000 capital gain.
Stock Delivery Instructions
Electronic transfers - If you wish to make a gift of stock held
by a bank or brokerage, electronic transfer is the easiest method.
(Do not sell the stock in your name and have the proceeds sent to
us, as this will constitute a cash contribution, and you will be
liable for any capital gains tax.) Please download
the sample stock gift letter for your bank or broker to execute
the transfer.
Mutual Funds Transfers/Registrations
If you wish to make a gift of mutual fund shares, you will need
to have the shares re-registered in the name of the Charlottesville-Albemarle
SPCA. Because brokerages and mutual fund companies differ in their
procedures for reregistering ownership, please contact your brokerage
or mutual fund company to determine its particular requirements,
and then contact the SPCA's Director of Development for assistance
in effecting the gift.
NOTE: Gifts of mutual fund
shares do take some time to finalize, so advance preparation is
recommended when the timing of a gift is critical. You may also
wish to have your broker or account representative contact us
prior to the delivery to ensure that he or she is comfortable
with the delivery instructions listed above and to advise us of
the pending delivery.
Securities Delivery Instructions: Physically
Held Certificates
For securities physically held by you, please send certificates
without any endorsement to the Charlottesville- Albemarle SPCA.
Then, under separate cover, forward by mail a signed stock power
for each security, along with a letter indicating the purpose of
your gift. Stock powers are generally available from any bank or
brokerage (Your signature must be medallion guaranteed by a bank
or broker, not simply notarized.) |
