Donate Stock
Many donors find donated appreciated stock an efficient way of making a gift to TCM. Donating stock held for a least one year will afford you the benefit of a charitable deduction of its fair market value at the date of sale as well as avoiding capital gains taxes on the proceeds of its sale. In the case of depreciated stock, however, it is advisable that you sell the security to capture the capital gains loss and then donate the proceeds.
To make a stock donation:
2. Please include a letter of authorization stating that you want to deposit it to TCM’s account. If you have an account with Schwab, just contact your broker. The broker will need a letter authorizing the transfer.
3. If you will be transferring from another brokerage firm, ask your firm to transfer the stock. Schwab’s account information is DTC#0164 Code 40 Account number 8918-1328.
4. To ensure that the stock is properly credited to TCM, please contact Greg Smith at (404) 577-6651 and let him know the amount of stock transferred, as well as the date of transfer.
Because of Schwab’s rules on confidentiality, Schwab cannot notify TCM of the name of the person donating the stock. YOU must let TCM know directly of your gift in order for us to generate the acknowledgment required for IRS tax deductions – and for us to say “Thank You!”
Once the transfer is completed, TCM will send an acknowledgment letter.
