Gifts of stocks benefit Chaminade and the donor. Call the Office of Advancement at (516) 742-5555 ext. 444, and we can help you determine the best way to gift appreciated securities.
STOCK GIFT TRANSFER INFORMATION
Transfers from a Bank or Broker
If your bank or broker holds your securities, we recommend an electronic transfer in two steps via the Depository Trust Company (DTC) system.
- Bank Name: Goldman Sachs
Account Name: Chaminade Development Fund - Stock Donation
Account Number: 055-70957-0
Address: Goldman Sachs and Co., 200 West Street, New York, NY 10282
- Submit transfer details via the form below. Failure to supply the requested information may cause a delay in recognizing you as the donor.
When the Certificate Is Transferred Electronically
Effective date and valuation are calculated using the average of the high and low prices on the date of gift, which is the day the security is received into our brokerage account.
You may claim a federal income-tax charitable deduction when filing an itemized return, and many state income-tax laws allow this type of deduction as well. When the donated items have been held for more than one year, you may claim a deduction for their full fair-market value, and after appreciated securities are donated, you can avoid paying tax on the capital gain.
Always discuss donations with your tax consultant to maximize your benefits.
You may be able to claim a gift of long-term appreciated securities as an income-tax charitable deduction in the year of your donation up to 30 percent of your gross income. Any excess donation not claimed may be carried forward for an additional five years. If your donated securities have been held for less than twelve months, only your cost basis is deductible.
If your securities declined in value, it is generally advisable not to donate them but rather to sell them to establish a tax loss and then donate the proceeds to Chaminade High School.