|
Give Securities
The United Board is pleased to accept gifts of stock or other marketable securities, which often generate greater tax benefits to the donor than an equivalent cash contribution. We will issue a receipt that states the date the securities came into the United Board's possession, the name of the issuing corporations or authorities, and the number of shares received.
The date of delivery and therefore the date of donation can be affected by the manner in which the transfer of stock is affected, therefore affecting the value of the stock. This value is normally the average of the high and the low trading price for the date the donor delivered the stock.
The date of delivery is normally the date on which the donor has surrendered control of the stock. Because IRS regulations stipulate that it is the donor's responsibility to determine the value of the donated securities for tax purposes, the United Board urges donors to consult with their tax advisor.
To send stocks by mail or directly to our broker, use the following procedures:
By Mail:
| • |
By certified or registered
mail send the stock certificate(s) without endorsement
but with an accompanying letter stating that the shares
are being donated to the United Board. |
| • |
In a separate envelope, send a signed stock power (available from your broker or from the United Board if you do not have a broker). Please send one for each separate certificate being donated. Simply sign the stock power where indicated - DO NOT fill in the date or any other information. |
| • |
Please use the following
address: |
 |
United Board for Christian Higher Education in Asia
Attn: Vice President of Finance & Administration
475 Riverside Drive, Room 1221
New York, NY 10115 |
The IRS will typically recognize the date of donation as the
date of the postmark when the security is sent by mail.
By Electronic Transfer (Broker to Broker):
| • |
Instruct your broker to wire the donated
shares(s) as follows: |
|
Charles Schwab & Co.,
Inc.
101 Montgomery Street
San Francisco, CA 94104
Delivery to DTC Clearing 0164, Code 40
For credit to United Board for Christian Higher Education
in Asia
Account number 2402-1970
|
| • |
Please also
send a letter to the United Board that tells us essentially
the following:
I have instructed my broker [name] to transfer XXX shares
of XXX Corporation to the United Board. [This contribution
is designated for XXXX.]
|
The IRS will typically recognize the date of donation as the
date the stock is wired via DTC from the donor's account to
the United Board's account. |
