Stock/Securities Donations
Stock/Securities Donations
Making a donation of securities is a tax-wise way to support brain and behavior research:
A gift of appreciated securities might provide tax advantages far greater than a gift of cash. When you transfer ownership of stock held long-term (a year and a day) you may be eligible to receive a charitable deduction for their full market value of the security and incur no capital gains tax. Of course, you should consult with your tax advisor before making any gift of securities.
How to donate via stocks or securities
Answer
Here’s what we need from you:
- Call 800-829-8289 or email us at jbayat@bbrfoundation.org and tell us that you want to make a gift of securities.
Here’s what you need:
- Name of the security
- Number of shares you wish to donate
When you contact your broker, you will need to share the following information. Your broker will do the rest:
- Account Name - Brain & Behavior Research Foundation
- DTC number – 235
- Account: RBC Capital Markets
- Account number -978-20173
- Tax ID Number -31-1020010
If the securities are held in an account in street name with your broker or bank
Answer
Instruct your broker or bank officer to arrange for the transfer of securities via Depository Trust Company (DTC) to Brain & Behavior Research Foundation’s account at RBC Capital Markets.
The date of gift for valuation purposes is the date the securities are actually transferred into the Brain & Behavior Research Foundation account.
If your securities are in certificate form:
Answer
Send by mail, or deliver by hand, unendorsed certificates, with a cover letter describing the asset(s) being donated and the purpose of the gift, to John Bayat at the Brain & Behavior Research Foundation at 747 Third Avenue, 33rd Floor, New York, NY 10017 or jbayat@bbrfoundation.org.
In a separate envelope, send a signed (exactly as name appears on the certificate) stock/bond power for each asset. Do not complete any other section of the stock/bond power.
The date of gift is the date of the postmark on the envelope containing the certificate(s) or the date of delivery by hand to the representative. The IRS does not accept receipts from private carriers such as Federal Express to substantiate gift dates.
If the securities are held in a mutual fund:
Answer
Most funds will require that you send a letter, with signature guaranteed, asking that a specific number of shares or a specific dollar amount in shares, be re-registered in the name of.
A copy of the letter should be sent to John Bayat at the Brain & Behavior Research Foundation at 747 Third Avenue, 33rd Floor, New York, NY 10017 or jbayat@bbrfoundation.org.
Since mutual funds differ somewhat in their procedures, you should call your fund to verify its requirements for transfers.
The gift date for valuation purposes is the date the fund shares are re-registered in the Brain & Behavior Research Foundation’s name.
Valuation of securities:
Answer
Your gift of securities is valued at its fair market value on the date of the gift. In the case of publicly traded securities, the fair market value is the mean between the high and the low (bid and ask) prices on the date of gift. Mutual fund shares are valued using the public redemption price on the date of the gift.
IRA Charitable Rollovers
What should I know about the permanent IRA Charitable Rollover?
The IRA Charitable Rollover is a tax-smart way to make an impact on the Brain & Behavior Research Foundation (BBRF) using your Traditional or Roth IRA. The IRA Charitable Rollover (also called a Qualified Charitable Distribution, or QCD) is an excellent choice to make a tax-free gift to BBRF and satisfy your Required Minimum Distribution (RMD). If you are not required to take a RMD, but no longer itemize your deductions, then a QCD may be right for you, too.
How Do I Qualify?
The IRA Charitable Rollover (QCD) offers multiple benefits for making gifts from your Traditional or Roth IRA:
- You must be 70 ½ years or older at the time of the gift
- Gifts must go directly from your IRA to BBRF
- Gifts must come from a Traditional IRA or Roth IRA account
- Gifts cannot exceed $100,000 per donor per year
Benefits of an IRA Charitable Rollover Gift:
- If you don’t itemize deductions, and are not yet required to take your RMD, a QCD offers all the benefits of an itemized income tax charitable deduction
- If you are age 72 or older, and must take your RMD, a QCD can satisfy your RMD without increasing your income taxes
- You may direct your gift to a research area or program of your choice
How can I make an IRA Charitable Rollover?
Contact your IRA administrator for their QCD distribution form and information on how to make such a gift.
To discuss making a gift of Securities or a gift from your IRA, please email Development@bbrfoundation.org or call 646-681-4889.
Donate Now
Donations are welcome