Donate Stock & Mutual Funds
- Donate Stock & Mutual Funds
Stocks and Mutual Funds
Gifts of securities such as stocks and mutual funds are a welcome source of support for SKIP, and they can provide donors with a significant tax benefit in the year the donation is made as well as avoiding capital gains taxes. Transferring securities is a straightforward process and SKIP will work closely with you. We recommend speaking with your legal and financial advisors about your planned gifts and their federal and state tax implications. Note as well that such gifts have organizational guidelines, outlined in the SKIP Gift Acceptance Policy, which must be met.
The procedure used to transfer securities generally depends on how you hold the securities. Securities can be gifted to SKIP in two ways: electronically and by mail.
- Electronic transfer – Your broker will transfer shares using SKIP’s Depository Trust Company (DTC) Number directly to SKIP’s brokerage account.
- Mail – Send the paper certificates directly to SKIP.
- Contact your broker to initiate the transfer of securities to SKIP. Click here to download a
- Send the Securities to SKIP:
SKIP Bank: U.S. Trust, Bank of America Private Wealth Management
Account Name: SKIP of New York, Inc.
SKIP Account Number: 41-15-001-2180651
SKIP Tax ID Number: 13-3236869
DTC Number: 0955
- Notify SKIP about Your Gift
Each time a gift of stock is donated, information about the gift for audit and acknowledgment purposes is needed. Please contact SKIP about the forthcoming gift at (212) 268-5999 #231 or by email at firstname.lastname@example.org.
- The effective date of your gift will be the date that the securities arrive in the SKIP account. The value of your gift will be the average of the high and low quotations for that day.
Paper Certificates Sent Via Mail
- Contact your broker to initiate the transfer.
- Mail your UNENDORSED certificate(s) with a Stock Power Form and a Stock Waiver Form in separate envelopes, by registered mail, to:
SKIP of New York
601 West 26th Street, Suite 522
New York, NY 10001
- Notify SKIP about Your Gift
Each time a gift of stock is donated, information about the gift for audit and acknowledgment purposes is needed. Please contact SKIP about the forthcoming gift at (212) 268-5999, #231 or by email at email@example.com.
- The value of your gift will be the average of the high and low quotations using the later of the postmarked dates from the stock certificate(s) or the stock power(s). The date of the gift will be the later postmark of the two envelopes.
Closely Held or Restricted Stock
Closely held and restricted stock may be accepted by SKIP of New York under certain circumstances. For unlisted securities, the value of the gift must be determined through an independent appraisal provided by you. The minimum gift for closely held or restricted stock is $50,000. For more information, contact SKIP of New York by phone at (212) 268-5999 #231 or by email at firstname.lastname@example.org.
The transfer process for mutual fund shares varies slightly depending on how they were acquired, e.g., through a broker or directly from a mutual fund company. To manage the transfer in the most efficient manner possible, we recommend that you contact SKIP by phone at (212) 268-5999 #231 or by email at email@example.com.
The effective date of your gift will be the date the mutual fund shares arrive in the SKIP account. The value of your gift will be the value of the fund shares at the end of that day. Please note that mutual fund transfers generally take three to four weeks.