Donating stock to United Way of Tompkins County is easy and convenient. Those who donate stock enjoy numerous benefits, including:
Claiming the market value of the securities as a tax-deductible contribution (as opposed to the cost basis).
Avoiding capital gains tax, local and state taxes on the profit from the sale of securities.
Lowering the cost basis of the gift.
There Are Three Ways To Give Stock
1. Go through your own broker
- Please complete a pledge form and fax/ mail a Stock Transfer Authorization letter to your broker and to United Way of Tompkins County. Notifying United Way of Tompkins County of any transaction will ensure that your gift will be processed expediently. Please use this sample letter.
2. Take your stock to United Way of Tompkins County
- Deliver your stock certificate to: United Way of Tompkins County, 313 N. Aurora Street, Ithaca NY 14850
- If stock is in your name, a signature(s) as shown on certificate is required.
- Complete a certificate release request and have your signature medallion guaranteed by a brokerage firm.
- United Way's broker will sell stock upon authorization by United Way of Tompkins County and forward notification and proceeds to United Way of Tompkins County for completion of processing.
3. Give stock via a trust account
- Notify trustee.
- Advise trustee of United Way of Tompkins County broker, Katherine Olmstead at The Prybyl Farr Group Morgan Stanley - email@example.com or 607-273-1190.
- Trustee can have stock registered in United Way of Tompkins County's name and mail certificate (to addresses above) or have stock transferred to United Way of Tompkins County’s broker account. Please contact Katherine Olmstead for account information.
- If stock is in United Way of Tompkins County's name, Audit Services Dept. will transfer to United Way's broker for sale.
- Submit in writing to trustee/broker/United Way of Tompkins County the specifics of the transaction; provide United Way of Tompkins County with name, firm (if part of an employee gift), stock name, number of shares, and any specific designations for proper accounting treatment.
In order to avoid the capital gains tax, donors must give the stock directly to United Way of Tompkins County. It is United Way of Tompkins County's policy to sell stock immediately upon receipt.
For additional information please contact Meg Cole, firstname.lastname@example.org or 272-6286 at United Way of Tompkins County.