Gifts of Stock/Securities
Stocks can be used instead of cash to make a gift to the Foundation. Giving appreciated stock is a “win-win” for the donor and for the Goodwin House Foundation. If you’ve owned the stock for a year, you can make a gift of it to the Foundation, deduct its full market value, and not pay any tax on the long-term capital gains.
If a gift of stock is of interest to you, please contact the Foundation and tell us the name of the stock, the number of shares, the name and telephone number of the brokerage firm/bank from which the stock will be sent, and the date on which the stock will be transferred. The Foundation then will notify our bank of your intention, so the transfer is seamless.
Publicly Traded Securities
The Foundation accepts securities (including mutual funds) traded on a recognized stock exchange and other readily marketable securities. For gift crediting (recognition) and accounting purposes, the value of the gift of securities is the average of the high and low prices on the date of the gift, according to IRS regulation. For gift acknowledgement to the donor, the high, low, and average of the securities on the date the gift was received will be reported to the donor for tax purposes. All gifted securities will be sold upon receipt. In no event shall an employee or volunteer working on behalf of GHF commit to a donor that a security will be held by GHF.
Closely Held Securities
The Foundation may accept non-publicly traded securities after consulting with the GHF Gift Acceptance Committee. Prior to acceptance, the committee will explore methods and timing of liquidation of the securities through redemption or sale. The committee will determine:
- an estimate of fair market value;
- any restrictions on transfer;
- whether and when an initial public offering might be anticipated.
No commitment shall be made by staff or volunteers working on behalf of GHF for the repurchase of such securities by GHF prior to the completion of a gift of the closely held securities.
The Foundation accepts gifts of bonds that require a “holding” period. They will be cashed when the holding period has expired.
GHF will not accept the following securities as gifts:
- securities that are accessible or that in any way could create a liability to GHF;
- securities that, by their nature, may not be assigned (such as Series “E” Savings Bonds);
- securities that, on investigation, have no apparent value.