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donate stock
Donate
Stock
Thank
you for your interest in and generous support of Catholic Charities
of Brooklyn and Queens.
Gifts
of securities often confer significant tax benefits on the donor.
For example, contributions of appreciated securities held for
over a year are generally deductible at market value, regardless
of what the donor paid for the securities. In addition, the capital
gains tax is avoided through such a gift.
How
to notify Catholic Charities of Brooklyn and Queens on a gift
of stock:
When
making a gift of stock to Catholic Charities, please contact the
Director of Planned Giving. It is extremely important to have
complete donor information (Name, Address, Phone Number), the
name and type of stock to be gifted (common, public, private,
restricted), and the number of shares and the date you intend
to make the gift.
Regardless
of the method chosen to deliver a gift of stock, the donor or
the transferring broker must provide the following information,
for audit and acknowledgment purposes:
Donor’s
name and complete address Name and number of securities transferred
Date you intend to make the gift
You
may mail or fax this information to:
Director
of Planned Giving, 12th Floor
Catholic Charities of Brooklyn and Queens
191 Joralemon Street
Brooklyn, NY 11201
Email:plgive@ccbq.org
Tel: (718) 722-6209
Fax: (718) 722-6242
Types
of transfers:
Electronic Delivery of Stock Shares directly from your broker
to the Catholic Charities account is the most secure and expedient
delivery process available. However, you may also transfer certificates
directly. With both methods it is very important to follow these
instructions.
Securities
Delivered Electronically:
Our broker is Fiduciary Trust Company International. The transfer
of securities from a donor’s brokerage account to Charities’ Fiduciary
account is accomplished via the Depository Trust Company (DTC).
To perform such a transfer, simply notify your broker of the securities
to be gifted and provide the following transfer instructions:
Brokerage:
Fiduciary Trust Company International
DTC Number: 937
Account Name: Catholic Charities Diocese of Brooklyn
(our formal corporate name)
Account Number: Catholic Charities Diocese of Brooklyn’s
Fiduciary Account. # 140444407
It
is most important to know the identity of the donors of all securities
gifts in order to give prompt and accurate credit for all gifts
received. Particularly in the case of an electronic transfer,
it is often very difficult to obtain this information after the
transaction is processed. Therefore, in addition to instructing
your broker to include your name and address in the DTC transfer
instructions, please contact the Director of Planned Giving
by e-mail, phone or letter to inform Catholic Charities of the
securities being gifted (see notification above).
Securities
Delivered by Mail:
Physical delivery of stocks and bonds should be made to the Director
of Planned Giving by certified U.S. mail with return receipt requested.
If the donor is the registered owner of the certificate, a Stock
and Bond Power signed by the owner, exactly as the name appears
on the certificate, with a signature guaranteed (which
you can likely obtain through your bank or broker), also needs
to be provided to us. As a precautionary measure, the certificate
(which should not be signed) and the signed Stock and
Bond Power should be mailed separately. If the stock or bond
has already been registered to Catholic Charities, no stock or
bond power is necessary; however, a letter identifying the donor
is essential for us to properly credit the gift.
In
instances where a stock or bond is to be registered to Catholic
Charities of Brooklyn and Queens before it is sent to us, you
will be required to supply the transfer agent with a mailing address
and a taxpayer identification number. The following address should
be used:
Lynne
Williams
Director Development
Catholic Charities of Brooklyn and Queens
191 Joralemon Street 12th Floor
Brooklyn, NY 11201
A
Stock and Bond Power form is provided for your convenience*:
Gift
Valuation Date:
Physical Securities The gift valuation date for physical securities
is determined by the postmark on the envelope used to mail the
securities to us. For hand delivery of securities, it is the date
the securities are turned over to a representative of Catholic
Charities of Brooklyn and Queens.
Electronic
Transfer The gift valuation dated for securities sent to us via
DTC is the date the securities are deposited to our Fiduciary
Trust Account.
Valuation
Method:
The value of a stock gift is calculated by averaging the high
and low quoted selling prices for the stock as of the gift valuation
date. The value of a bond gift is calculated by averaging the
bid and ask prices for the bond as of the gift valuation date.
Acknowledgment
of Gift:
As soon as a securities gift is received and matched to the donor,
Catholic Charities of Brooklyn and Queens sends an acknowledgment
stating the nature of the gift, the gift valuation date and the
gift valuation amount.
Do
you have more questions? If you have any further questions,
please call Lynne Willimas at 718-722-6209. Again
many thanks for your interest in supporting the work of Catholic
Charities of Brooklyn and Queens.
