Gifts of Stock and Securities

Gifts of stock and mutual funds are fairly easy, and as compared with a gift of cash, can be advantageous from the donor’s perspective. You can make an outright gift of stock or use stock to fund a more sophisticated planned gift, like a gift annuity.

With stock that has appreciated in value, you must give the stock directly to the Providence General Foundation to realize any benefits. If the donor sells the stock and then provides the proceeds to the Foundation, you will need to pay capital gains tax on the profit. With stock that has depreciated in value, the best charitable option is reversed. The donor should sell the stock first and then donate the proceeds so that the donor can realize the income tax benefit of the loss.

The actual donation or transfer of stock is very simple. You simply instruct your broker to transfer the desired shares to the Providence General Foundation account below. Then notify the Providence General Foundation as soon as you have initiated your stock transfer transaction. This is important because sometimes stocks can be transferred with a donor’s name inadvertently omitted.

Securities will be valued as of the date the securities are received in the Foundation custodial account. The fair market value assigned to gifts of securities is the mean between the highest and lowest quoted selling price on the date of delivery of the gift. The Foundation will notify the donor with amount of his/her contribution deduction based on the date that the transfer is completed.

Information needed to electronically transfer stock to the Providence General Foundation:

Merrill Lynch
Sean Kelly or Sharon Morganti
2707 Colby Avenue, Suite 1401
Everett, Washington 98201
425-259-8343 or 425-259-8377

Your broker or banker will need the following information:
Providence General Foundation
Tax ID 91-1041617
Account #285-02019 – DTC #8862


Please also contact the Providence General Foundation at 425-258-7500 to notify us of your intention to transfer stock. Thank you for your support.

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