Transferring Gifts of Stock
Your gift of publicly traded securities, like stocks and bonds, can net you big gains when you establish or add to a charitable fund at the community foundation. And, we make the transaction easy.
The charitable income tax deduction you receive is based on the current market value of the securities – the average of the high and low – on the date we irrevocably receive the shares.
We have developed a very efficient and timely transfer process with FirstMerit, our custodian bank. We have the ability to value and acknowledge stock contributions under IRS guidelines, usually within 24 hours of receiving the shares. We also have longstanding relationships with most local trust banks and wealth managers.
During the last week of March 2017, we will be switching our systems from FirstMerit to Huntington as part of their merger and will not be able to process stock transfers until Monday, April 3.
It's easy to transfer investments to any fund at Akron Community Foundation. Contact Steve Schloenbach
, vice president and chief financial officer, for personal assistance. We will need to know your name, the issue being transferred (company name), the number of shares being transferred, and the name of the charitable fund the contribution will benefit or establish.