When you give stocks, bonds, or mutual fund shares that you have held for a year or longer, the IRS allows you to give without recognizing capital gains on the appreciation.
The recent sharp rise in the securities markets make this an ideal time to make stock gifts while reducing tax obligations. Mike Barry, a Carondelet trustee and parent of two alumnae, explains how.
How to make a stock gift
Transfer of ownership is managed electronically between your broker and the School’s broker, Merrill Lynch, Pierce, Fenner & Smith.
Your broker will need the following information to complete the transfer:
Broker: Merrill Lynch, Pierce, Fenner & Smith Incorporated
Account Name: Carondelet High School
Management Phone: 212-236-9196
Account Number: 5AX-03997
After making your gift
Once you have instructed your broker to make the transfer, please contact Summer Staino, Executive Director of Development, at 925.686.5353 x160 or firstname.lastname@example.org to inform the school of the name of the stock, number of shares, and how you wish to be recognized.
Your broker will be able to provide a value for tax-deduction purposes. Carondelet will value your donation at the median sales price on the day the gift is given.