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Transferring Gifts of Stock & Mutual Funds

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.

StocksThe 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 Huntington National Bank, 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.

Next Steps

It's easy to transfer investments to any fund at Akron Community Foundation, but it's important that we're notified ahead of time. Please contact Steve Schloenbach, vice president and chief financial officer, for a copy of our stock transfer instructions or for personal assistance. We ask that you reach out to us before advising your financial representative to release any shares for transfer.

We will need to know your name, the issue (stock or mutual fund), the number of shares or units being transferred, and the name of the charitable fund the contribution will benefit or establish. This will allow us to accept the transfer immediately and minimize the risk of it being lost or returned. 

Please Note: The process for accepting mutual fund gifts is different than stock. It's important to have your broker/financial representative provide us with details of the gift, including the ticker symbol and number of shares/units expected before any transfer is made. This process can take up to two weeks to complete. For questions, contact Steve Schloenbach.