Q: How do I donate stock to a charity?
A:
Before you donate any stock to a charity, you should check with the charity first to determine if they will accept the stock.
Once you determine, the charity will accept the stock, you need to transfer the stock into their name.
The transfer depends if you have the stock in certificate form, or if the stock is deposited with broker.
Certificate form:
On the back of the stock certificate, indicate the name of charity you plan to transfer the stock, on the back of the stock certificate, there is a place for your signature. Before you sign, take the stock certificate to you bank, and ask for a Signature Guarantee (a green stamp). Sign and have the bank stamp the certificate. Once this is accomplished, send the stock certificate to the transfer agent, listed on the front of the stock certificate. Send the transfer agent the certificate with a simple letter telling them want you want to do.
In Brokerage account:
If the stock is in a brokerage account, you can tell you broker that you a certificate issued in your name for the amount of shares you wish to transfer to the charity. The broker will notify the transfer agent to send you a certificate, and the shares will be deducted from your account.
If the charity has their own brokerage account, you can transfer the shares electronically. Ask you stock broker for ACAT form and the broker can transfer the shares for you.
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