Gifts of Securities Can Have Added Tax Benefits
Donating securities that have increased in value is one of the most effective means of benefiting charity while also obtaining considerable tax benefits. Your gift of appreciated stock, held more than one year, can help preserve and protect Lake County's natural and cultural treasures, while helping you potentially avoid capital gains tax on the sale of the assets.
It is Easy to Transfer Your Stocks or Bonds
Transfers can be made into the Preservation Foundation's brokerage account by using the following instructions:
Account Name: Preservation Foundation of the Lake County Forest Preserves
Account Number: 1753-8625
DTC #: 0141
Clearing Agent: First Clearing Corp
Donor Name & Address: We want to make sure that your gift is properly acknowledged and directed to the correct use.
Designation: The purpose for which the gift is to be used.
When you make a transfer, please contact the Preservation Foundation to provide the donor’s name, name and type of securities, the number of shares being transferred.
Please note: for appreciated securities, you should make clear to your account representative that they should transfer, not sell, the stock. If you sell an appreciated stock and then transfer the funds, you could end up paying capital gains tax.
If you hold the stock certificate, the gift can be completed two ways:
By Mail: The stock certificate, along with a letter of instruction regarding the purpose for which the gift is to be used, may be mailed to the Preservation Foundation. We suggest using registered or certified mail. In a separate envelope, please mail a signed Stock or Bond Power. This form can be obtained from your broker or from the Preservation Foundation.
By Hand Delivery: The stock certificate, along with a letter of instruction regarding the purpose for which the gift is to be used, may be delivered by hand to the Preservation Foundation office. The stock certificate must be accompanied by a Stock or Bond Power, available from your broker or the Preservation Foundation.
What is the Date and Value of My Gift
Gifts transferred electronically are complete on the date the Preservation Foundation receives the transfer. Especially for year-end gifts or securities with fluctuating values, be sure to check with your account representative to determine how long the transfer will take, as some securities can take a long time to transfer.
Gifts transferred by mail are complete on the postmark date, if sent via the U.S. Postal Service. If a certificate and Stock Power are in separate envelopes, the later postmark applies. If you use a commercial courier, the applicable gift date does not occur until both the certificate and Stock Power arrive at the Foundation.
The recorded gift value of a publicly traded security is the average of the high and low market prices on the official gift date.
If you have questions or need additional information, please contact us at donate@LCFPD.org or 847-968-3110.