MORE ABOUT DONATING STOCKS OR BONDS TO BBBS
Start helping kids profit. Many donors are now making gifts to us in the form of stocks, bonds and mutual funds. As a donor, you are entitled to take a charitable deduction for the full fair-market value of appreciated securities held longer than one year, and you usually avoid paying the capital gains tax that would be due if you sold the securities.
DONATING STOCKS OR BONDS HELD BY A BANK OR BROKER
If your equities are currently held at a bank or in a brokerage account, simply send a letter of instruction to your broker or banker with a full description of the securities and your gift’s intended purpose. Securities can be sent electronically using the following transmittal instructions: Bank of New Glarus Big Brothers Big Sisters of Green County Bank Account Number: Please contact the office for further information. Bank Contact: Shelly Petit Baum, Assistant Branch Manager, at Shelly@bankofnewglarus.com or 608-325-1100 Please advise us of your gift by notifying Shannon Kaszuba, Executive Director, at email@example.com or 608-325-7855.
DONATING STOCK CERTIFICATES YOU HOLD
- Send the unsigned certificates by certified mail to the attention of Shannon Kaszuba, Executive Director, Big Brothers Big Sisters of Green County, 1505 9th Street, Monroe, WI 53566.
- Copy and send one blank stock Power of Attorney for each company whose stock you are transferring. Only the signature line should be filled in, with the signature(s) matching the name(s) that appear on the face of the certificates. Include both names if the stock is jointly owned.
- The Power of Attorney must be notarized.
- Send the certificates and stock powers in separate envelopes. Send the signed stock power in one and the stock certificate(s) in the other with a letter (also signed by the owner(s) of the stock) stating that the stock is being donated to Big Brothers Big Sisters of Green County.
EFFECTIVE DATE AND VALUE OF YOUR GIFT
Your gift of stock or publicly traded securities will be valued based on the mean market price of the securities on the gift date. We will provide you with a receipt for your tax records. Big Brothers Big Sisters determines your gift date according to the following guidelines:
- By mail, it is the later of the postmark dates of your separately mailed stock certificates and stock powers.
- By electronic transfer, it is the date that the securities enter Big Brothers Big Sisters’ account.
- By hand, it is the date that a Big Brothers Big Sisters’ employee receives the stock certificates and stock powers of attorney.
- By reregistering securities in Big Brothers Big Sisters’ name yourself, it is the date on the new certificates (this method takes the longest).