Your gift of stock to The Hinsdale Central Foundation will be greatly appreciated!
Giving stock may allow you to avoid the capital gains tax associated with the sale of appreciated securities, and give a bigger gift than you thought possible.
Say you want to give $20,000 to the Hinsdale Central Foundation. If you use long-term appreciated securities for this gift, the cost basis is less than $20,000. You save on the cost of the gift ($20,000 less the cost basis = savings) and also avoid paying the capital gains tax if you give the shares to the Hinsdale Central Foundation before selling them. The Hinsdale Central Foundation will sell the shares and is not required to pay the capital gains tax. If yousell the shares before giving them to The Hinsdale Central Foundation, even if you intend to give the proceeds to The Hinsdale Central Foundation, you will likely be subject to capital gains tax.
If you wish to contribute stock certificates to The Hinsdale Central Foundation, you may either direct your broker to assign ownership of the shares to The Hinsdale Central Foundation or you may also contribute shares you own and complete and submit the following stock power under separate cover.
For Value Received, ___________________ I hereby sell, assign, and transfer unto
(________) shares of the Capital Stock of the ________________________________
standing in ___________________________
name on the books of said ________________________________
represented by Certificate(s) No. ____________ herewith,
and do hereby irrevocably constitute and appoint ___________________________ Attorney,
to transfer the said stock on the books of the within named Company with full power of substitution in the premises.
Signed ________________________________ Dated __________________________
In Presence of __________________________
Notice: The signature(s) to this assignment must correspond with the name as written upon the face of the certificate, in every particular, without alteration, or any change whatever, and must be guaranteed by a commercial bank, trust company, or member firm of the Boston, New York, or Midwest Stock Exchange.
Please consider consulting your attorney and/or tax advisor when planning a donation to the Hinsdale Central Foundation.