Gifting appreciated stock is one of the most effective strategies for tax savings available.* In addition to supporting causes you care about, there are two main benefits to the donor when transferring appreciated stock to 501(c)(3) charities like the Beta Foundation: the avoidance of a capital gains tax and eligibility to receive an income tax charitable deduction for the full fair-market-value of the stock at the time of the gift.
Upon receiving a stock gift, the Beta Foundation will immediately sell the stock and earmark the dollars to the fund of your choosing (donation value determined by averaging the selling day’s high/low stock price, then multiplying by the total number of shares).
Do not sell the security on the open market, then try to donate the proceeds to charity, as you will be taxed on the stock’s capital gains. To take advantage of the tax benefits listed above, work with your broker to initiate a charitable stock transfer using the following wire transfer instructions:
-
- Depository Trust Company: #0164 Code 40 | Charles Schwab & Company, Inc.
- For the Benefit of: Account Number 4919-6335 | Beta Theta Pi Foundation
- Tax ID Number: 80-0296934
- Account Address: Charles Schwab & Co., Inc., Attn: IST 9, PO Box 628290, Orlando, Florida 32862
- Charles Schwab & Company Contact: Rachel Lasure | 877.553.7699
Please contact us at 800.800.BETA immediately after initiating a stock transfer to disclose which securities and the number of shares you are transferring. This helps ensure the gift is directed to the appropriate fund and allows us to send a gift confirmation.
Have other questions about making a stock gift, including how to gift paper stock certificates? Contact Director of Development Laura Lednik.
*Please consult with your own legal and financial advisors for professional tax advice.
Stock Transfer Instructions
