Donating stock, bonds, or mutual funds that have gone up in value may be a tax-wise way for you to support the American Red Cross, Southeastern Pennsylvania Chapter. First, you receive a federal income tax deduction for the full market value of the securities as long as you have owned them for at least one year. Second, you avoid the capital gains taxes that you would owe if you sold these securities.
Stock Gifting Procedure
For Stock Held in a Brokerage/Custodial Account
Tell your broker you would like to donate stock and decide which shares to sell. Your broker will then arrange for an electronic transfer. You will need to provide your broker with the following information about the American Red Cross Southeastern Pennsylvania Chapter's account:
Smith Barney, Inc.
Mary C. Moretz
Phone (215) 854-6106
Account Name: American Red Cross, Southeastern Pennsylvania Chapter
Our EIN: 23-2701718
Our DTC: 0418
Our account number: 652-22035-1-9-303
For Stock in Donor's Name in Certificate Form
The certificate needs to be signed on the back or sent with a separate signed stock power. The signature must appear exactly as it reads on the certificate. It will be easier for the Red Cross if you do not assign the stock over to us but instead simply sign the certificate or stock power. Once the stock/power is signed, the certificate is negotiable, and it is a good idea to send the documents via registered mail return receipt.
Notification of Donor Intent
Regardless of the method chosen to deliver a gift of stock, the donor or the transferring broker must provide the following information to the American Red Cross, Southeastern Pennsylvania Chapter, to ensure that you receive the appropriate acknowledgement for your tax filings and recognition for your generosity.
- Your name and complete address
- The company name and number of shares of securities being transferred
- Date of the transfer
- The designation, if any, of your gift
Contact Us
American Red Cross, Southeastern Pennsylvania Chapter
Attn: Financial Development
23rd & Chestnut Streets
Philadelphia, PA 19103
E-mail: DavisE@redcross-philly.org
Phone: 215-299-4064
