While time and money are the most common donations to Faye Clark's New Horizons, there are several other ways to give as well, including donating your stocks. This is a fast and simple process which can be done through an electronic transfer, or certificates can be donated through the mail.
Donations of stocks allows us to ensure that we are able to provide programs and services for adults with intellectual and developmental disabilities. Your donations help adults with autism, intellectual delay, Down syndrome, epilepsy and cerebral palsy to live a life without limits. Please see the stock transfer instructions below:
There are three different ways to be able to give securities to Faye Clark's New Horizons:
1. ELECTRONIC TRANSFER: · It is very important that the donor or his/her broker notify Faye Clark's New Horizons of the impending transfer.
Designation of the gift in order to credit the gift properly.
Stocks can then be transferred electronically to Faye Clark's New Horizons:
Schwab account: 1411-4069
Official name: Faye Clark's New Horizons
Tax identification number: 59-1931651
Receiving brokerage firm: Charles Schwab & Co.
Broker: Charles Schwab
Account Number: 1411-4069
For any questions in regards to the transfer or the Schwab account, please contact our Registered Investment Advisor, Waddell & Associates, 901-586-2066, Sharon Tyson, Sharon@waddellandassociates.com.
Following IRS regulations, valuation of the gift will be based on the average between the high and low on the date the stock transfers into the Faye Clark's New Horizons’ account, unless Faye Clark's New Horizons has previously signed agency papers with the transferring organization.
2. IF YOUR BROKER (OR BANKER) HOLDS THE STOCK IN STREET NAME:· Instruct your broker in writing regarding the specific shares that you wish to donate to Faye Clark's New Horizons.
Have your broker call Sharon Tyson at Waddell & Associates, LLC or Ed Aldama at Faye Clark's New Horizons, to receive instructions on the disposition of the donated shares.
Stock valuation will be the date the transferred shares reach the Faye Clark's New Horizons’ account. For this reason it is imperative that your broker transfer stock in an expedient manner. A stock gift is complete only when the actual transfer takes place.
3. IF YOU HOLD THE CERTIFICATES:· Send the UNENDORSED certificate by REGISTERED mail to:
Faye Clark's New Horizons
Attn: Ed Aldama
1340 South East Ninth Avenue
Hialeah, FL 33010
By SEPARATE First Class mail to the same address above, send a stock power signed exactly as your name appears on the UNENDORSED CERTIFICATE, with your signature guaranteed by a bank officer.
Stock powers can be obtained from your broker or banker. Include a letter indicating for what purpose the gift is being given.
Stock valuation date will be the postmark date on the envelope containing the stock power.
If the certificate is made out in the name of Faye Clark's New Horizons, valuation will be made as of the issue date recorded on the certificate.
Instead of giving cash, people with investments in stocks, bonds and other securities they've held for at least one year can donate those that have appreciated in value. This will result in significant income-tax savings. In fact, donating stock saves even more taxes than donating cash, since there is no capital gains tax when appreciated securities are given to a nonprofit.
Here’s how it works: If someone owns stock for more than one year that has gone up in value, that person can donate the stock to a nonprofit, get a deduction equal to the fair market value of the stock at the time of the transfer (its increased value), and never pay capital gains tax on the appreciated value of the stock. The nonprofit will never owe that capital gains tax either. It can take the stock and either sell it right away and not pay any tax, or it can hold on to it—but it will never owe capital gains tax on the appreciated value the donor realized.
With a charitable gift of appreciated securities held long-term, the donation you make and the deduction you get are greater than they would be if you were to sell the shares and donate the cash proceeds instead. That is because when you donate shares, you avoid paying the capital gains tax.