Gifts of appreciated securities are a smart and simple way to maximize the effectiveness of your charitable giving. If stocks you have held for more than a year have increased in value, you may want to consider using these assets – rather than cash to fund your giving. By transferring ownership of your long term stock to Bernard Zell you make a gift to support the school, avoid the capital gains tax you would pay if the stock were sold, and you may claim a charitable tax deduction for the current fair market value of the asset.
Stock transfers can be done in one of two ways:
DTC Transfer
If you have your shares of stock in a brokerage account this is a convenient way to transfer securities. Instruct your broker to electronically transfer your securities out of your account and into Bernard Zell’s Merrill Lynch account.
Merrill Lynch
FBO: Bernard Zell
DTC#:8862
Account Number:63604121
Certificate Transfer
Transferring your certificate can be as easy as endorsing the back of the certificate and sending it by certified mail to Bernard Zell. You must sign the certificate in front of a bank officer to obtain a Medallion Signature Guarantee (notary public stamps are not an acceptable guarantor of stock certificates).
Endorse the certificate exactly as your name(s) appear on the front. For example, if your certificate is listed as “Jeffrey F. and Margo P. Smith,” you will need to sign the certificate exactly as “Jeffrey F. Smith” and "Margo P. Smith”.
Write the school’s tax identification number, 36-2166955, in the box on the back requesting a social security number or other identifying number of assignee. Mail the certificate by certified mail to:
Bernard Zell Anshe Emet Day School
ATTN: Development Office
3751 N Broadway Street
Chicago, IL 60613
Disclaimer:The information above is not intended as a substitute for wise tax counsel. We strongly recommend you consult with a professional tax advisor before making a gift of securities.
