Gifts of Stock or Mutual Shares

This is a great way to get added value for your contribution, since donors may deduct the full market value of appreciated shares of stocks or mutual funds on the day they are contributed to FGC. You do not pay any capital gains tax.

To receive a tax deduction equal to the full market value of the gifted stock, you must have held it for at least one year. At the same time, the new capital gains tax rules should be taken into consideration, since giving "mid-term property" (stocks held between 12 and 18 months) will have greater tax savings, assuming you might sell those stocks before they've reached long-term maturity (18 or more months).

Most brokers will want to transfer stock gifts to FGC electronically. To do so they will need our DTC and account numbers. For Friends General Conference these numbers are DTC 2039 and Account 9574A. Our representative for handling gifts of stock is Bari Simensky (212-525-8421) at HSBC Bank in New York City.

When transferring stock electronically, please notify Michael Wajda at the FGC office that the transfer that has been made. This assures us of getting the proper acknowledgment to you promptly.

To contribute mutual fund shares, you will need to contact your mutual fund company to obtain the proper forms. Again, your tax-deductible contribution will be calculated as the full value of each mutual fund share on the day it is contributed to FGC.

Michael Wajda, FGC's Associate Secretary for Development & Interpretation, can be reached at (215) 561-1700 or mich...@fgcquaker.org. The FGC Fax number is 215-561-0759.