Securities can be defined as " ... an obligation issued by a corporation that represent a continuing interest in the company."
Donating appreciated securities is a smart and easy way to support Purnell. For example, if you were to sell your appreciated securities, generally you would have to pay a capital gains tax. On the other hand, if you donate your appreciated securities (held more than 1 year) to Purnell, you will benefit in two immediate ways: (1) You will avoid the capital gains tax, (2) You will receive a charitable income-tax deduction (of course it is always a good idea to consult with your financial advisors for the most current laws and regulations).
Broker Held Certificates
(for Electronic Transfer - quick, easy, and done routinely)
Most shares of stock held by a broker can be delivered to Purnell School's bank account through the Depository Trust Company (DTC). This type of transfer is the most popular, quickest, and usually least expensive method to transfer securities to Purnell School.
IF YOUR STOCK IS HELD AT A BROKERAGE FIRM: Notify your broker that you wish to make a gift of securities to Purnell School. In most cases, your broker will require written authorization from you prior to making the transfer. Indicate the name of the stock you wish to transfer, the number of shares, and the purpose of your gift.
Physical Certificates:
If your physical stock certificates are in your name, they can be mailed or hand delivered directly to the Purnell School Relations Office.
MAILING INSTRUCTIONS: If you are mailing your securities, you should send the unendorsed certificate(s) and a letter of instruction (which includes your name, address, and the purpose of your gift) in one envelope. In a separate envelope, you should send a signed stock power which are available from your broker, bank, or by calling our office at 206-368-3606. Your signature on the stock power should be precisely the same name as the name appearing on the stock certificate(s), and must be guaranteed, which can be done by your bank. We strongly recommend that you send both envelopes via registered mail.
Purnell School
51 Pottersville Road
Pottersville, NJ 07979
Please do not have your certificate(s) registered in Purnell School's name. This is an unnecessary and time consuming procedure in most cases and can cause needless delays.
