Gifts of stock represent a two-fold savings opportunity. Donors avoid paying capital gains taxes on the increased values of their stocks. In addition, donors receive a tax deduction for the full market value of the stock on the date of the gift. The majority of stock gifts are made through a simple electronic transfer from your broker to the Foundation. To complete a stock transfer, please:
- Contact Elizabeth Hickman at 1-866-308-2773, ext. 419, or ehickman@brpfoundation.org, notifying us of your intention to make a stock gift. Please include your name, the name and amount of the shares being transferred, the expected date of the transfer, and the purpose for which the gift is to be used. Failure to notify us with donor details could result in filing the stock gift as anonymous.
- Give the following information to your broker:
Foundation broker: Merrill Lynch Global Wealth Management
DTC number: 5198
Account number: #78802083
Send to the attention of:
Beverly Burke
Phone number: (336) 721-3221
Foundation Tax ID number: 31-1512730
With proper notification, receipt letters to donors will indicate the number and types of shares, date of the transfer, and value of the gift. For valuation purposes, the donor of publicly traded stock will be credited with the fair market value of the stock which is determined by averaging high and low trading prices on the date of the gift.
An alternate way to make a stock gift is to use the DonateStock third party platform. Their team can assist with making a stock donation. Follow the link below for more information.
