gifts in the form of stock, bonds or mutual fund shares
Many donors choose to make gifts in the form of stock, bonds or mutual fund shares. Donors of securities may realize tax benefits by giving long-term securities that have appreciated in value.
When making a gift of stock to us, you receive a two-fold advantage: 1) you avoid paying any capital gains tax on the increase in value of the stock, provided you have held the security for at least one year; and 2) you may deduct 100% of the fair market value of the gift, not just the amount you originally paid for it. 3) The preferred transfer procedure would be to have any stock certificate sent, unendorsed, to the NECHV Development Office with a properly executed stock power form mailed in a separate envelope. A second option would be to have the brokerage house issue a new securities certificate in the name of the NECHV and then mail it. This method, however, often results in long transfer delays and the date of the gift becomes the date the company issues the new certificate.
Securities may also be transferred electronically to the NECHV account at Smith Barney Citigroup, using the DTC (Depository Trust Company) account number system.
Finally, as a last resort, securities may also be transferred to a brokerage account set up by the donor’s broker in the name of the NECHV. The account would remain open long enough to accept the transfer and then either be used to move the securities to the Shelter’s account at Smith Barney Citigroup or directly sell the securities under the name of the New England Center for Homeless Veterans.
Whatever means you use to deliver a gift of stock, either the donor or the transferring broker must inform our organization of the following information for proper posting and acknowledgment purposes.
Donor's Complete Address
Name of the Securities being transferred
Number of Shares being transferred
For transfer instructions and assistance, please contact our Vice President for Development at 617-371-1777 or Vice President for Finance at 617-371-1717 or fill out the form below.
NECHV may collect the following data regarding a user: first name, middle name, last name, street address, city, state or province, zip code, e-mail address, local telephone code, or phone number. NECHV uses this information for the purpose of contacting visitors about their interest in donating to the New England Center for Homeless Veterans. This information will not be sold, traded, or given to any other organization or company.
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