GIVE
HOW TO DONATE STOCK & SECURITIES
Thank you for your interest in donating stock to Hermosa Beach Education Foundation. Electronic delivery of stock shares is the most secure and expedient delivery process available and provides efficient internal control as well as cost savings. However, you may also transfer certificates directly. To facilitate a gift of stock, please use the following instructions.
Securities Delivered Electronically
LPL Financial
ATTN: Custody
1055 LPL Way
Fort Mill, SC 29715
DTC Number: 0075
Account Name: Hermosa Beach Education Foundation
Tax ID# (EIN): 33-0522270
Account Number: 1972-3640
Please instruct your broker to include your name in the delivery instructions.
So that we are able to ensure proper acknowledgement of your gift for income tax purposes, we ask that you notify us in advance of any electronic transfers of securities by emailing endowment@hbef.org. The information you provide should include a description of the securities donated, the number of shares of stock or face amount of bonds, your name, address, phone number and email address if available.
Securities Delivered by Mail
Please mail your unendorsed certificate/s and stock power in separate envelopes by registered mail to:
Hermosa Beach Education Foundation
P.O. Box 864
Hermosa Beach, CA 90254
Notification of Donor Intent
Regardless of the method chosen to deliver a gift of stock, the donor or the transferring broker must provide a letter including the following information, for audit and acknowledgment purposes:
- Donor’s name and complete address
- Name and number of securities transferred
You may send a letter or an email to communicate this information at time of transfer to:
Hermosa Beach Education Foundation
Contact: David Marquart
P.O. Box 864
Hermosa Beach, CA 90254
Email: endowment@hbef.org
Valuation for Tax Purposes and Date of Gift
The date of the gift is the day of the stock passes from your control. The value, for income tax purposes, is the closing price quoted selling price on the settlement day. Your gift will be acknowledged by Hermosa Beach Education Foundation.
BENEFITS OF DONATING STOCK
You may realize two tax savings by contributing stock as a gift to Hermosa Beach Education Foundation.
Deduction for Charitable Contribution
Federal and state tax law may permit taxpayers who itemize to deduct the current value of charitable contributions from their adjusted gross income. To qualify for such a deduction, the stock must have been held by the taxpayer for more than one year.
Save on Capital Gains Tax
Contributions of stock may have no tax liability on the difference between the cost of donated stock and its current, fair market value (FMV): i.e. there may not be tax on the capital gains. Please consult your tax advisor for more information.
Please Note: Hermosa Beach Education Foundation is obligated to record your gift as of the day it is received into its brokerage account. Consequently, given the increased volume of year-end gift transactions, it is advisable for you to plan your year-end charitable giving as early as possible. You may wish to have regular communications with your broker to ensure that the transfer has actually taken place. These steps should help to assure you receive proper credit for your gift within the tax year desired. Hermosa Beach Education Foundation does not make any representations as to the accuracy of the above information. You should always consult with your financial advisor and/or tax advisor before initiating a charitable gift arrangement.