HOW TO TRANSFER SECURITIES
A transfer of appreciated property, such as stocks or bonds, is an easy and tax advantageous way to make a charitable gift. Many donors choose to contribute appreciated securities instead of writing a check when they establish or add to a component fund at the VCF. When you transfer appreciated securities, you avoid paying capital gains tax on the appreciation, yet your income tax deduction is based on the stock's current market value. Alternatively, if you sold the stock and contributed the proceeds, you would be subject to capital gains tax on your appreciation.
How To Give Stocks, Bonds or Mutual Funds
If the securities are held in "street name" at a brokerage firm or bank:
Have your broker or trust officer contact us about your gift. Shares can be wired to Lucinda Bain at the Morgan Stanley office in Burlington, Vermont (1-800-869-9660) by authorizing transfer to:
Morgan Stanley
DTC 015
FAO: 413-028320-048
FBO: The Vermont Community Foundation
If your securities are held in a Morgan Stanley account:
Send written authorization to your account executive to journal the gift from your Morgan Stanley account to:
FAO 413-028320-048
FBO: The Vermont Community Foundation
If you hold actual stock certificates:
Send the unendorsed certificate(s) (by certified mail if you prefer) to:
The Vermont Community Foundation
Attention: Debra Rooney, Finance Director
P.O. Box 30
Middlebury , VT 05753
In a separate envelope, mail a signed stock power form, with your signature guaranteed by a commercial bank or brokerage firm, by ordinary first class mail to the same address as the certificate. Stock power forms can be obtained from your bank or brokerage firm. Include a brief letter stating that the securities are a gift to the VCF. We use the letter as authorization to deposit the securities directly into our account.
If you are contributing shares in a mutual fund:
Please call Debra Rooney, Finance Director, at 802-388-3355. Each mutual fund uses its own procedures for gift transfers. We will help you determine the specific instructions to transfer your mutual fund shares to the VCF.
Important: Don't Forget To Notify the VCF
As soon as possible after taking one of the above steps, please contact Debra Rooney, Finance Director, and let her know the arrangements you have made (e.g. your name, the name of the stock you are contributing, number of shares, etc.). This is necessary because sometimes a broker will execute a transfer of stock to our account and not include the name of the donor, which creates confusion.
If you have any questions about how to donate securities to the VCF, don’t hesitate to call the VCF’s Finance Department (802-388-3355) or Lucinda Bain at Morgan Stanley in Burlington (1-800-869-9660).