Gifts of securities such as stocks, bonds and mutual funds are especially advantageous if you hold a security that has increased in value since you acquired it. By making a gift of stock held longer than one year, you completely avoid paying capital gains tax. In addition, you would receive an income tax deduction for the current market value of the gift. You may deduct gifts totaling up to 30% of your adjusted gross income in any year, with a five-year carry-over for any excess.
If you hold stocks or bonds in street name with a broker, you may transfer the securities electronically by instructing your broker to send the securities to our account through the Depository Trust Company (DTC). Please contact either of us for transfer instructions.
Save The Bay contact:
Phone: (510) 463-6837
Fax: (510) 463-6851
Our account at Charles Schwab:
1939 Harrison St. #120, Oakland, CA 94612
DTC Number: 0164-40
Account Number: 2682-5218
Save The Bay Tax ID#: 94-6078420
In order to facilitate the transfer and acknowledgment of your stock gift, please notify Betsy Cardis of your name, the name of the stock and the number of shares being donated before you transfer the stocks. Of course, we will respect the wishes of donors who prefer not to have their name publicly disclosed.
Mutual funds make excellent gifts and offer the same tax benefits as gifts of stocks or bonds.
If your mutual funds are held by your broker or banker, or are in certificate form, please use the procedure for stocks or bonds explained above.
If your mutual funds are held by the fund company, you may write a dated letter to the fund, indicating your account number and instructing them to transfer the shares to:
Save The Bay
Tax identification number 94-6078420
Attn: Betsy Cardis
1330 Broadway, Suite 1800
Oakland, CA 94612-2519
Your letter should be signed and your signature guaranteed by your broker or banker. Please enclose a copy of your latest statement if possible and send your letter by certified mail (and request a return receipt if you would like to have proof of its delivery). Please send a copy of your authorization to Betsy Cardis to notify us of your gift.
Note: Most mutual fund companies have a toll-free number for shareholder questions. You may want to call them to confirm the above procedure before mailing your authorization letter.
If you would like more information on gifts of stocks, bonds or mutual funds, please contact Betsy Cardis at (510) 463-6837 or bcardis@saveSFbay.org. Thank you!