GIFTS OF STOCKS AND OTHER SECURITIES
BENEFITS OF GIVING STOCK
A gift of stock (or other appreciated property) entitles you to a tax deduction for the market value of the donated stock (not just your cost basis). If the stock you wish to donate has been held for more than one year, you can avoid capital gains tax on any appreciation of the stock by donating the stock prior to sale. Lollypop Farm, the Humane Society of Greater Rochester, benefits by selling the stock without paying taxes on the gain, and you benefit from making a contribution that would be larger than what you might have been able to donate in cash.
TRANSFERRING STOCK TO LOLLYPOP FARM, THE HUMANE SOCIETY OF GREATER ROCHESTER
To donate shares of stock, electronically or by mail, please use a letter of transmittal stating your intention to donate to Lollypop Farm. Send the letter to both Post Resch Tallon Group (Lollypop Farm’s broker) and to the Lollypop Farm Development Office. Contact information for Post Resch Tallon can be found in the letter of transmittal.
For all electronic transfers of stock to Lollypop Farm, please refer to the instructions below.
Electronic transfer to the Lollypop Farm account with Post Resch Tallon:
Please have your broker contact Post Resch Tallon (Kerry Tallon or his assistant, Christine Walsh, at 585-249-1030 or 800-877-4439) and inform them of your wish to transfer stock to Lollypop Farm (account #N3C012613, DTC #0443).
To mail transfer of stock certificates to the Lollypop Farm account with Post Resch Tallon: You may choose to mail stock certificates directly to Post Resch Tallon at the address listed below. When the stock certificates are mailed, please also send a fully- and properly-executed stock power under separate cover.
It is strongly suggested that you send the stock and stock power via either overnight U.S. mail or certified mail/return receipt requested. If sending certified, you should retain the date-stamped receipt for tax records. The date of the gift for substantiation/ acknowledgement is the date the securities and fully-executed stock power are mailed via U.S. Post Office or delivered by private carrier.
Kerry Tallon, CFP (representative for Lollypop Farm)
Post Resch Tallon Group
1163 Pittsford-Victor Road
Building #4, Suite 240
Pittsford, NY 14534
Phone: 585-249-1030 or 800-877-4439
Fax: 585-249-1037
Email: kpt@postreschtallon.com
DTC Number: 0443
Account #: N3C012613
The Humane Society of Rochester and Monroe County, Inc. (Lollypop Farm) Tax ID#
#16-0743047
How the Value of Your Gift Will Be Determined
The value of your gift is the average price of the stock on the date the stock was electronically transferred to Lollypop Farm. If you have mailed certificates, the date stamped on the U.S. postal service certified mail receipt as the date the stock certificates and fully-executed stock power were mailed will be used. If you use a private carrier (such as Federal Express), IRS rules recognize the gift as being completed when actually delivered, not when the certificates are sent.
If you would like further information about making a gift of stock, contact Cathie Wright at 585-223-1330 x245 or wright@lollypop.org.
This information reflects, in very general terms, how a gift might affect specified tax liabilities. This is not an effort to reflect your current tax picture or suggest that a particular gift will have the indicated result in your case; only your lawyer and accountant can do that. We suggest you consult your professionals before acting upon the concepts reflected here. |
