Making a gift of appreciated stock to Polytechnic School may offer two-fold tax savings by circumventing the tax due on the capital gain and providing an income tax deduction for the full market value of the stock at the time of the gift.
Instructions for transferring stock vary depending on whether the stock is being physically delivered to the school in the form of actual certificates or being sent electronically through DTC for shares that are currently held at a bank, brokerage house, etc. Securities held by your bank or broker:
Please notify your bank or broker that you are making a gift of securities to Poly and provide them with our wiring instructions
. Your bank or broker will need to contact Linda Babcock
, administrative associate to the Advancement Office, at 626-396-6332 with details of the gift as this information does not transmit through the DTC wiring system.Securities held by you:
Please send un-endorsed certificates by mail, along with a letter providing your name, address, and the purpose of your gift to:
Attention: Advancement Office
1030 E. California Blvd.
Pasadena, CA 91106
In a separate envelope, please mail to the same address a stock power for each certificate, along with a copy of your letter. Do not complete any information on the stock power other than your signature and the date. If the certificate represents a greater number of shares than you intend to give to Poly, please enclose a note requesting the return of a new stock certificate with the non-gift balance.
Your bank or broker can supply you with blank stock powers, or Poly’s Advancement Office will be happy to send them to you. For most expedient handling, do not fill in Poly’s name as transferee on either the stock certificate of the stock power, and please do not send stock certificates to a transfer agent for transfer into Poly’s name.