Giving appreciated securities is a convenient way to support MFS, while gaining tax advantages. You receive an income tax deduction for the full market value of the stock on the date of the gift, provided you have owned the securities for more than 12 months. Most donors avoid the capital gains tax otherwise due on the sale of securities. You are urged to consult your tax professional before making gifts of appreciated stock. Please contact Director of Development Steve Zakroff at 856-914-4411 or firstname.lastname@example.org for assitance.
The value of your gift of appreciated securities is the mean of the high and low price of the stock on the date one of the following occurs:
• securities and a signed stock power are hand delivered or mailed (date of postmark) to MFSl.
• electronically transferred securities arrive in an account in the name of Moorestown Friends School.
How to Give Securities
When the security is held by your broker or commercial banker (electronic transfer).
You can notify your broker by letter that you want to give securities to MFS and send a copy of the letter to the Development Office, or you can call the Development Office to notify us that a stock gift is in the works. Stock transfers can be made to MFS via the following:
PNC Investments, 101 W Main St, Ste 100, Moorestown, NJ 08057, phone 856-608-0648, fax 856-638-3970. The agent is Jane Rocks, Jane.Rocks@pnc.com. The MFS account number is 005-267627 with a DTC# 0226.
The school also has an account with Vanguard Brokerage Services. If you’d like to make a stock transfer to that account, please contact Director of Development Steve Zakroff.
When the security is in your name and in your possession (certificates):
- Obtain a stock power from your broker or banker.
- Sign the stock power. Sign exactly as your name appears on the certificate. If the security is jointly owned, both owners must sign the stock power. The stock power also requires that the signatures be guaranteed.
- Mail the signed stock power in a separate envelope to the MFS Development Office.
- Mail unendorsed certificates by first class or registered mail. Please be sure to enclose a letter indicating that you are making a gift of securities and state if the gift is to go to the Annual Fund or for a specific project.
- If the certificates are already endorsed, send them by insured mail or deliver them to the Development Office.