APPRECIATED SECURITIES
Advantages to You
A growing number of donors make gifts to PDS in the form of appreciated
securities rather than cash. There are good reasons to do this because
of extra tax advantages.
- You get a charitable income tax deduction if you itemize your taxes
- You avoid paying tax on the capital gain
- If you have owned the securities for more than twelve months, you
may claim a tax deduction for the market value - rather than purchase
value - of your securities
Read
more on this trend, as reported in the Wall Street Journal recently,
in "Philanthropy Today," an online posting of The Chronicle
of Philanthropy.
How to Give Securities
Making a gift of appreciated securities to Poughkeepsie Day School is
a simple procedure.
A. If your securities are with a bank or broker, send the following sample
letter to your banker or broker with a copy by mail, e-mail or fax to
Arthur Moore, Director
of Development, Poughkeepsie Day School, 260 Boardman Road, Poughkeepsie,
NY 12603 (or fax 845- 462-7603). If you would like to discuss your gift
with Arthur, call him at (845) 462-7600 x 113.
.
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Sample Letter
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Your Broker
Your Broker's Address
(Phone Number)
RE: Your Account
Number
Your Account Title
Dear (Broker's
Name):
Upon receipt of
this letter, please transfer via DTC the following holdings:
(# shares) of (name
of stock), (Cusip# or ticker symbol) as a gift to Poughkeepsie
Day School for (purpose), to Merrill Lynch, DTC #5198, Poughkeepsie
Day School Acct.#: 858-04524
Your
Signature (If joint account) Joint Owner's Signature
Your name as it appears on the account Joint Owner's name
as it appears on the account
cc: Sandra Moore
(FAX - 845-462-7603)
Before
transferring, please contact Arthur Moore at Poughkeepsie
Day School
(845) 462-7600, x113, to advise him of this gift and its purpose.
Please note that the gift is not recorded until the transfer
occurs.
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Note: If you have any problems,
please call
Antonio Copolla, Broker 845-431-2234
Merrill Lynch
Riverside Office Park
2649 South Road, Poughkeepsie, NY 12601
B. If the certificates are
in your possession please contact Sandra Moore at 845-462-7600 x 110,
for instructions.
Gift Value
The gift value of the securities
is the mean of the high and low price on the date one of the following
occurs:
- The securities are transferred
via DTC to Poughkeepsie Day School; or
- The securities are placed
in the Poughkeepsie Day School account at your brokerage firm (transfers
to a bank's shared charitable gift account do not accomplish the transfer),
or
- The securities and stock
powers are hand-delivered (date of receipt), mailed through private
delivery service (date of receipt), or mailed through US Postal Service
(date of later postmark) in negotiable form to Poughkeepsie Day School
or its agent.
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