_ How to donate appreciated stock to The Learning Fund of Green Valley:
Stock Transfer Procedures
1 – Donor discusses stock donation with tax adviser. Determine how much and which stock to donate. Decide with your adviser when the stock will be transferred to The Learning Fund account at Charles Schwab.
2 – Download the “Letter of Instruction” below.
3 – Fill out the “Letter of Instruction” 1-4 and SIGN. (Joint account holders must both sign.)
4 – Give the signed letter to your broker. This will give your broker the instructions to TRANSFER (not sell) shares of specific stock(s) to The Green Valley Learning Fund brokerage account.
5 - Notify the Green Valley Learning Fund treasurer Michelle Yewell.
6 – Check with your broker and the Green Valley Learning Fund soon after submitting your transfer request to ensure it has been received and that the transfer has been completed. (The stock is usually sold immediately, preferably the same day.)
7 – The Learning Fund will provide you with a letter of appreciation stating the date you transferred stock, the number of shares and the Tax ID# for your tax records.
Note: All appreciated stock donations to The Learning Fund of Green Valley are tax deductible and you pay no capital gains tax.
Important Information before proceeding:
Stock Transfer Procedures
1 – Donor discusses stock donation with tax adviser. Determine how much and which stock to donate. Decide with your adviser when the stock will be transferred to The Learning Fund account at Charles Schwab.
2 – Download the “Letter of Instruction” below.
3 – Fill out the “Letter of Instruction” 1-4 and SIGN. (Joint account holders must both sign.)
- You will need: your account name, account number, stock(s) you wish to transfer, number of shares you wish to donate.
- For actual share certificates: The donor signs the back of the certificate (or signs an assignment separate from certificate form provided by broker) and delivers the certificates – preferably in person or mailed by express courier – to The Learning Fund or to the Charles Schwab account.
- For “street name” shares: The donor instructs his/her broker by letter to transfer the specific securities to The Learning Fund account at Charles Schwab (including The Learning Fund account number and Charles Schwab DTC number); this correspondence can also be done electronically.
4 – Give the signed letter to your broker. This will give your broker the instructions to TRANSFER (not sell) shares of specific stock(s) to The Green Valley Learning Fund brokerage account.
5 - Notify the Green Valley Learning Fund treasurer Michelle Yewell.
6 – Check with your broker and the Green Valley Learning Fund soon after submitting your transfer request to ensure it has been received and that the transfer has been completed. (The stock is usually sold immediately, preferably the same day.)
7 – The Learning Fund will provide you with a letter of appreciation stating the date you transferred stock, the number of shares and the Tax ID# for your tax records.
Note: All appreciated stock donations to The Learning Fund of Green Valley are tax deductible and you pay no capital gains tax.
Important Information before proceeding:
- You must have held the stock for at least 12 months.
- Discuss stock donations with a tax adviser before proceeding.
Letter of Instruction - Click to download
ltr_of_instruction_-_website.pdf | |
File Size: | 74 kb |
File Type: |