Giving Gifts of Stock
Gifts of stocks are especially advantageous if you hold a stock that has increased in value since you acquired it. By making a gift of stock held longer than one year, you avoid paying capital gains tax. In addition, you may be eligible to receive a tax deduction for the current value of the gift.
How to Make a Gift of Stock
The easiest way to make this kind of gift to Western Resource Advocates (WRA) is to have your broker electronically transfer the stock from your account to ours. Instruct your broker to deliver the shares via DTC (a standard practice of electronic transfer). Your broker will need the following information about WRA:
Brokerage Account: Charles Schwab & Co.
Account Name: Western Resource Advocates
DTC # 0164, Code # 40
Account # 5881-7331
Contact: 1-877-328-0276 and ask to be transferred to the Schwab Accounts group (anyone should be able to help)
The donor’s broker may also want the following information:
Legal Name: Western Resource Advocates, Inc.
Tax ID #: 84-1113831
Once you have made a gift of stock, please notify Rick Trilsch at 720-763-3723 or [email protected] Please provide Rick with the following information: your name, address, the name of the stock, and the number of shares being donated before you transfer the stocks.
This information is necessary because electronic transfers of stock are not made in the name of the owner (you), but in the name of the financial firm. WRA is only able to provide you with a receipt of your gift if you notify us of the stock donation. Of course, we will respect the wishes of donors who prefer not to have their name publicly disclosed.