The Upper Valley Haven
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Gifts of Securities
When you give long-term appreciated securities, you receive an income tax deduction equal to the market value of the securities, and you avoid capital gains taxes on the transfer.
To deposit gifted securities into The Haven’s brokerage account, please have your broker write or phone at The Haven to inform him of the official date of the gift. We need this information to furnish you with an accurate acknowledgment for your tax records.
Stocks and Bonds Held in Street Name
These securities can be gifted via a direct transfer (DTC) by giving your broker the following instructions:
DTC # of shares of XYZ to PERSHING, LLC, DTC #0443 FBO The Upper Valley Haven, Inc., Account #4GH904642. They must state to deliver the securities for free. This means the donor will pay any transfer taxes due.
Stocks and Bonds Held in Certificate Form
You can sign the title of the certificate directly to The Upper Valley Haven. “PERSHING, LLC, should be written on the attorney line for deposit into the account. If you sign the back of the certificate, then we can complete the remaining information required for deposit.
Mutual Fund Shares
Mutual fund shares are not DTC eligible. They require writing a letter re-registering the number of shares you desire to gift into a new account for The Upper Valley Haven. This letter should be signature guaranteed, and should read as follows addressed directly to the fund group:
I desire to make a gift of my account balance, account #XXXXXXXX to The Upper Valley Haven, Inc.
Please re-register # of shares of my XXXX Fund into the name of The Upper Valley Haven, Inc., tax ID# 03-0277908, 713 Hartford Ave., White River Junction, VT 05001.
Feel free to contact at (802) 295-6500 with any questions regarding gifts of securities.
