Gifts of Securities/Stock Transfers
Giving appreciated stock to Loyola Academy is a wonderful way to help us continue our mission and for the owner to receive tax benefits on such gifts. If you itemize your deductions, you can claim a charitable income tax deduction for the fair market value of the donated securities and avoid capital gains tax. If you no longer itemize, donating appreciated stock still provides the benefit of not having to pay tax on the appreciation. This allows Loyola Academy to receive a larger gift than if it was sold by the owner and the proceeds donated to the school. In turn, the owner receives a greater tax deduction by giving the stock directly to Loyola Academy.
Many people who own stock today have it held for them by their brokerage firm. To sell the securities held by your brokerage firm, an Electronic Transfer can be done to fulfill your wishes in selling or disposing of securities.Directions for gifts of stock
to Loyola Academy, a 501(c)(3) non-profit organization:
- Notify Loyola Academy, attention Tammy Tsakalios
- Contact your broker with the following instructions
- Our account contact at Depository Trust Company
- Account #: 5000734-001
- Participant #: 2803 U.S. Bank N.A.
Another means of maintaining holdings of stock is to take delivery of the stock (receive the stock certificate) when purchasing. To sell or transfer stock when a physical certificate is held by the owner, a manual transfer must occur. The owner needs to take or mail the stock certificates to the new owner, a bank or brokerage company (for them to transfer), or to the company's transfer agent.
Loyola Academy Tax ID Information: 36-2367981
For additional information regarding stock transfers please contact:Tammy Tsakalios