Giving stocks and bonds that have increased in value (and that you have owned for more than one year) provides even greater tax benefits than giving cash.
Not only is the market value of the securities deductible (subject to applicable limitations), but you also avoid paying the capital gains tax on the appreciation.
If your stock is held in custody with a brokerage firm or bank trust department, you can make a direct transfer of the securities from the custodian firm or bank to Denton Wesley Foundation’s account at Edward Jones.
You should instruct the holding institution to make a direct transfer, known as a “DTC”, with the following instructions:
Please deliver [insert #] shares of [insert stock name and symbol] from my account
with [insert brokerage firm name], account number [insert account number] to:
DTCC #: 0057
Account Name: Denton Wesley Foundation, Inc.
Account #: 76420807
ATTENTION: Kyle A. Nayfa, Financial Advisor, kyle.nayfa@edwardjones.com
Please notify our Executive Director at 682-365-9811 or marianne@thedentonwesley.org to indicate that your gift is being transferred and how your gift is to be used. This will enable the Foundation to acknowledge your gift promptly and respect any restrictions you may have for the use of the gift.
If you have questions about the tax deductible value of your gift, check with your brokerage or tax professional. The Foundation is happy to provide any information or assistance they need to properly account your gift.