The Gift of Stock
Why make a gift of stock?
If you itemize your tax returns, gifts of securities entitle you to a federal income tax charitable deduction. In the case of appreciated securities, you may deduct the full fair market value of your gift once you have held onto the securities for at least one year. You are permitted to carry any unused deduction forward for up to five additional years. In addition, you will avoid paying capital gains tax on the stock you donated to PEN America.
Because electronic transfers are made without identifying the donor, please alert us in advance about the stock and number of shares you plan to give. You can do so by e-mailing [email protected] or calling (646) 880-6116.
According to IRS regulations, the date of your gift corresponds to the date it arrives in our possession (for transfers from brokerage account to brokerage account).
Following is the information necessary to transfer stock to our account:
If your stock is held in a brokerage account, your broker can transfer your gift electronically. They will need the following information:
Please contact us at (646) 880-6116 or [email protected] for this information.
If you hold the securities, mail or hand deliver the certificate(s) without any endorsement or assignment to:
PEN American Center
Attn: Deborah K. Wilson
588 Broadway, Suite 303
New York, NY 10012
In a separate envelope, mail or deliver a signed stock power form for each gift—except for your signature, the stock power form should be blank—and gift letter. The gift letter should state your intention to make a gift of the securities to PEN American Center.
You can request a stock power form by calling (646) 880-6116 or e-mail [email protected]. You can also obtain a stock power form from your bank or broker. Please sign the stock power exactly as your name appears on the stock certificate.
If you have any questions about giving via stock or electronic transfer, call PEN America’s Chief Development Officer, Deborah Wilson, at (646) 880-6116, or send an e-mail to [email protected].