Donating appreciated securities, including stocks or bonds, is one of the most effective means of tax savings available and is an easy and tax-effective way for you to make a gift to the YMCA of Metropolitan Washington.
BENEFITS OF GIFTS OF STOCKS AND BONDS:
1. Notify us of your plans. Inform the YMCA of the specific property you plan to contribute: number of shares and name of issuing company.
2. Electronically Transferred Securities to the YMCA of Metropolitan Washington
Publicly Traded Securities Held in a Brokerage Account
Send your broker a stock gift letter specifying the securities to be transferred and purpose of your gift – e.g. “for camp scholarships.”
Send a copy of the gift letter to Genette Comfort, YMCA of Metropolitan Washington, 1325 W Street, N.W., Washington, DC 20009. (A sample gift letter to the broker is included on this webpage for your use.)
If possible, please have the securities transferred electronically directly to the YMCA’s account with RBC Wealth Management, as listed below. This minimizes sales charges and administrative costs to the YMCA, so that more of your gift can be put to its intended use.
Our DTC number is: 0235
Our account number is: 316-54239
Our account name is: YMCA Metropolitan Washington
Broker: Robert Linn / (301) 309-2629 / robert.linn@rbc.com
The brokerage firm should notify Allison Jones at Allison.Jones@ymcadc.org once the transfer occurs. The YMCA will then issue a sell order upon receipt of transfer. It is important that the donation of securities be addressed to the YMCA of Metropolitan Washington, the legal entity of all branches for ease of ownership transfer. The Philanthropy Department will notify in writing the designated branch of the transaction.
3. Publicly Traded Stock Held in Certificate Form
If you wish to contribute all shares represented by a certificate registered in your name, simply mail the unsigned stock certificate to the YMCA of Metropolitan Washington by certified mail, along with a gift letter identifying the securities you are contributing as well as the purpose of your gift. If mailing the unsigned stock certificate, please also mail a signed stock power form in a separate envelope.
If you are delivering the certificate in person, we will have you execute the certificate once at the YMCA’s office in order to complete the transfer. To execute the certificate, we will have you sign the back of the certificate. We will also need you to bring a gift letter and it must be signed exactly as your name appears on the front of the stock certificate.
If you plan to contribute only a portion of the shares represented by your stock certificate, you will need to have a new certificate issued in the YMCA’s name by a transfer agent or the issuing corporation.
Or, you can take the stock certificate to your broker with a gift letter specifying the number of shares to be transferred and the intended use at the YMCA. Once the certificate has been executed, your broker can put the securities into your account and transfer the desired number of shares to the YMCA as outlined in item #2 on this memo.
Did you know, if you are over 70 ½ years or older, you can reduce your taxable income by making a gift directly from your IRA? Qualified Charitable Distributions (QCDs) help minimize your tax burden by satisfying a portion or all of our Required Minimum Distribution (RMD) obligation once RMDs begin at age 72. This allows you to lower adjusted gross income, which can be more valuable than taking an itemized deduction. Learn more by clicking the link below. Email Allison.Jones@ymcadc.org for more information.
For more information about gifting stocks and securities, please complete the form below.
Information provided by Michael J. Riley, CFP®, Managing Director – Financial Advisor, RBC Wealth Management – The Linn Group (https://us.rbcwealthmanagement.com/thelinngroup)
