As you consider tax-wise ways of giving to Dolphin Research Center, the donation of long-term appreciated securities presents significant advantages. Securities held for more than 12 months may qualify for a charitable deduction equal to the gift's full fair market value. In addition, this form of giving can eliminate the need to pay federal capital gains tax, state income tax, and potentially the 3.8% Net Investment Income Tax on the appreciated. The IRS permits a charitable income tax deduction of up to 30% of adjusted gross income in the year the gift is made. Any unused portion of the deduction can be carried forward for up to five subsequent years.
Securities Transfer Instructions
Our Broker Contact:
BNY Mellon Securities Corp
DTC #0443 – Account 5DF-095068
Dolphin Research Center Contact:
Shane Keween, VP of Finance & Administration; or Peggy McGill, Director of Accounting
Phone (305) 289-1121 ext.____
Fax (305) 289-8902
E-mail _____________________
Note
Please inform Dolphin Research Center when initiating a DTC transfer. Include information concerning security description, shares, and transfer initiation date.
Important
Pursuant to Internal Revenue Service regulations, the effective date of the gift for valuation and charitable deduction purposes is the date the securities are transferred into Dolphin Research Centers’ brokerage account. If the transfer needs to be made by a specific date, please allow sufficient time for the DTC transfer to take place.
Easy Steps for Transferring Securities
The rules for transferring securities, while not complicated, are strict. You will want to exercise care to assure that your stock transaction is completed correctly. The same rules apply to giving shares of a mutual fund. If you have any questions, please contact your financial or tax advisor.
Establishing the Gift’s Value
The amount of your deduction depends on the value of the securities on the date the gift is completed. This date may be important for your tax planning, particularly at year-end.
The gift value of the securities is the average of their high and low prices on the date of the gift. For mutual fund shares, the net asset value (NAV) at the close of business on the date of the gift is used to establish the value of the gift.
Note
The gift is complete for tax purposes when the securities are transferred into Dolphin Research Centers' brokerage account. It does not matter whether the securities are registered in your name, “street name,” or certificate form. The details will be handled by your broker and Dolphin Research Centers staff.
For information about bequests and estate planning opportunities, contact:
Nancy Turenne, Membership & Development Director
305-289-1121 ext 305
