A charitable gift of appreciated stocks or bonds is an easy way to support New England Conservatory while enjoying beneficial tax treatment.
By electronically transferring appreciated stocks or bonds directly to NEC's account, the donor realizes no gain on the sale and therefore avoid capital-gains tax. NEC can then sell the security without delay and put your donation to work immediately. Everyone benefits!
The process is simple and quick:
1. Contact Geri Colangelo, NEC Data Manager, at 617.585.1166 to receive NEC's UBS Financial Services account number.
2. Call your broker with instructions to transfer your security to NEC's account at UBS Financial Services on [name a specific date]. Your broker will need the following information about NEC's account to make the transfer:
- Account #: [see #1 above]
- DTC #: 221
- Contact person: William Hamilton
- Branch Administrator: UBS Financial Services, Inc.
- Address: 8 Essex Center Drive, 2nd Floor, Peabody, MA 01960
- Telephone: 978.538.1435
- Fax: 978.538.1490
- Email: firstname.lastname@example.org
3. Contact Geri Colangelo, NEC Data Manager, at 617.585.1166 to alert NEC of the transfer, including the name of security, number of shares, and date of transfer. NEC will confirm the transaction with our broker and then send you a letter documenting the transfer and mean value of the security on the day it is received in our account. Your broker should send you a confirmation as well, but the letter from NEC will suffice for your tax records.
Please note: NEC cannot accept stock certificates or bonds directly. For those whose securities are not held in street name, please deliver the securities to your broker and then proceed as above.
For more information regarding this process, please email Geri Colangelo or call 617.585.1166.