When you donate securities to the Tibetan Nuns Project, a registered charity, you not only help the nuns but you may also receive significant tax savings.
Each situation is unique, so be sure to consult your broker or financial advisor before making your donation. 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).
Generally, there are two approaches to donating marketable securities:
- Appreciated Assets: When you donate assets that have increased in value, you can benefit in two ways. You’ll avoid capital gains tax on the profit you’ve made, plus the fair market value of your gift can be counted as a deductible charitable donation. The way to do this is to transfer these assets directly to the Tibetan Nuns Project, which can be easily done through your broker or financial advisor.
- Depreciated Assets: You can also donate stocks, bonds or mutual funds that have decreased in value, though it’s handled differently. To receive the maximum tax credit, you should sell the assets first then donate the proceeds to the Tibetan Nuns Project. That way you can claim a loss on the sale of the assets while counting the gift as a deductible charitable donation.
Stock and Wire Transfer Instructions
If your securities are held “in street name” with your broker, you can send your broker a letter of authorization to transfer (not sell) shares of specific stock(s) to the Tibetan Nuns Project main brokerage account.
Your instructions to your broker should specify:
- your account number
- your name and contact information
- the day by which you wish to complete the gift transfer
- the name and number of shares you would like to donate
- the purpose of your gift (e.g. Unrestricted Use Fund, sponsorship, etc.)
Here is the information your broker will need from us:
- Custodian: Charles Schwab
- Account Name: Tibetan Nuns Project
- Account #: 2797-1424
- DTC: 0164
- Contact Name: Lisa Farmer
- Contact #: (206) 652-8901
Please contact us for any further information by calling 1-206-652-8901 or emailing email@example.com.
Electronic transfers to the Tibetan Nuns Project usually come through without any identifying information, which can delay the process of crediting you for the tax-deductible donation. To ensure that you receive prompt acknowledgment of your gift, it’s important that you send the Tibetan Nuns Project the following information prior to transferring your appreciated assets:
- Your name and contact information
- Number of shares and name of the assets being transferred (i.e., 500 shares of AT&T)
- Date of transfer
For Canadian donors
In order to receive the Canadian tax benefits of a gift of securities please contact us for details by calling 1-206-652-8901 or emailing firstname.lastname@example.org.