| Giving
Securities to the Onaway Camp Trust
As
you consider a gift of securities to the Onaway Camp
Trust, you can take full advantage of tax benefits of
your gift by understanding the following information
and consulting with your financial advisor.
Gifts
of appreciated securities
(held longer than a year and a day)
You
can generally take a charitable deduction for the full,
current market value of the stock at the time of your
gift. In addition, no capital gains tax is imposed on
the donated securities' appreciation in value. Special
Note: Charitable deductions are limited to the extent
of 30% of your adjusted gross income. If it is
not possible to take advantage of the full value of
the deduction in one year, the excess maybe carried
over for five succeeding years. Please contact your
tax advisor for further information.
Gifts
of securities which have depreciated in value
In this instance, you should sell the stock yourself,
taking advantage of the deductible loss, and contribute
the proceeds to the Onaway Camp Trust as a cash gift.
To
make a gift of securities,
please first inform Onaway of your intention by contacting
Anne Conolly at 518-443-0004
or by e-mail at aconolly@camponaway.org. Please
indicate your name, the number of shares, name of the
stock, your broker and his or her phone number and/or
address.
To
send or transfer stock electronically,
your broker will need your instructions in writing,
as well as the following information:
Click
here for the information on Onaway Camp Trust's brokerage
firm (you will need the password): Stock
Transfer Information
To
send a stock certificate by registered mail,
please do both of the following:
•
mail your unendorsed stock certificate in one envelope,
with a cover letter of instruction (including your name
and address); and
•
sign a stock power (with your name exactly as it reads
on the stock certificate and do not fill in anything
else on the stock power), and mail it, accompanied by
a copy of your cover letter of instruction, in a
separate envelope, to the Onaway Camp Trust's brokerage
firm.
The
date of the postmark constitutes the date of your gift.
A stock power can be obtained from your broker,
your local bank, or by calling Anne
Conolly at 518-443-0004.
The
Onaway Camp Trust Tax
ID Number is 02-0261393 |
