Gifts of Stocks and Securities
Giving appreciated securities is a convenient way to support Building with Love while gaining tax advantages.
How to Give Securities
OPTIONS FOR ELECTRONICALLY TRANSFERRING STOCK
- Your Broker can transfer your securities to the firm with a Love Solutions Group account. Laila’s Love Initiative federal tax ID number (85-3628787).
- Your Broker could choose to set up an account at your brokerage firm in the name of the Laila’s Love Initiative and transfer your securities into this account, sell the securities, sending the proceeds to the Love Solutions Group.
The average of the high and low of your securities on the day of transfer is the amount credited to you as your gift to the university.
Broker:
Summit Financial Networks
595 South Federal Highway, Suite 500
Boca Raton, FL 33432
Email: mriggs@hcmwag.com
Phone: (717) 637-0227
DTC Number:
Account Name: Laila’s Love Initiative Donation Account
Account Number:
We would appreciate it if you or your broker would notify Jessica McGee (Treasurer) at (214) 937-9129 of the approximate date of the transfer.
SECURITIES NOTIFICATION
Unfortunately, when funds are transferred electronically, the donor’s name is not always included in the transfer information. By letting us know of your gift, we will be able to properly match the stock that we received with your gift record. Please call, email or write to us with the following information:
- Name of stock transferred
- Number of shares
- Brokerage firm stock transferred from
- Approximate date of transfer
- How you would like the gift used at Mount St. Mary’s University
Tax Advantages
You receive an income tax deduction for the full market value on the date of the gift, provided you have owned the securities for more than 12 months.
- Most donors avoid capital-gains tax otherwise due on the sale of the securities.
