Often a gift of appreciated securities is a very tax-effective way to support Simon’s Rock.
When you donate appreciated stocks to Simon’s Rock, you avoid the capital gains tax you would have paid if you sold the asset. If you have owned the securities for longer than twelve months, you also receive an income tax charitable deduction for their full fair-market value. These tax savings—both in income and capital gains taxes—make gifts of securities a popular alternative to cash.
If you wish to maintain this particular stock in your portfolio, consider giving Simon’s Rock the stock and using the cash you would have donated to purchase the same securities in the open market. The newly acquired shares will then carry the current market value as their cost basis, an easy way to reduce future capital gains tax liability.
To make a gift of stock to Bard College at Simon’s Rock please provide these instructions to your broker or bank officer:
Before initiating the transfer, please have your broker contact Rich Montone:
By email: firstname.lastname@example.org
By phone: 413-644-4776
By FAX: 413-644-4774
By US Post:
Interim Director of Institutional Advancement
Bard College at Simon's Rock
84 Alford Road
Great Barrington, MA 01230
To electronically transfer securities Bard College at Simon’s Rock, direct funds to:
Merrill Lynch Wealth Management
DTC number: 5198
Beneficiary: Bard College at Simon’s Rock
Account number: 796-02085
Memo: Provide purpose of the gift, the name of securities and the number of shares.