FRIENDS OF THE LOS GATOS LIBRARY
ONCE IN A GENERATION
Stock Donation Information
How to Make Gifts of Securities
With the tax-saving advantages achieved by donating appreciated securities, many friends and supporters of Friends of Los Gatos Library find they can be more generous than they might otherwise be with an after-tax gift of cash.
Donations of marketable securities can be as easy as advising your broker or agent to transfer the stock electronically to Friends of Los Gatos Library's brokerage account, or delivering your stock certificate assigned to "Friends of Los Gatos Public Library."
Recorded Date of Gift
The date the gift is made is the date that Friends of Los Gatos Library receives irrevocable control and ownership of the security. This normally occurs in one of two ways:
The security is hand delivered to a Friends of Los Gatos Library representative by the donor or his/her broker or agent along with Stock Power and Guaranteed Signature;
OR
The security is received by Friends of Los Gatos Library's broker or agent via electronic transfer.
Gifts of stock options, closely held stocks or stocks with any restrictions must be evaluated by the Friends board of directors to determine if the gift will be accepted at the value of the gift. Donors should be advised by their personal accountants and/or financial advisors to calculate their charitable tax deduction and the value of their gift of securities.
Delivery of Securities Certificates
Hand deliver the Letter of Intent (provided by the Friends),
Stock Certificate with Stock
Power and Guaranteed Signature to:
Tom Atkinson, Board Treasurer
Friends of Los Gatos Library
100 Villa Avenue
Los Gatos, CA 95030
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(408) 354-6895
Friends of Los Gatos Public Library requests the hand delivery of securities certificates be by appointment only.
Electronic transfer from your Broker or Agent to:
Friends of Los Gatos Library Account
Charles Schwab & Co. Inc.
DTC #: 0164 code 40, Account # 8166 1266
355 N. Santa Cruz Avenue
Los Gatos, CA 95030
408-357-0170
For assistance in electronic transfers, contact Charles Schwab & Co., Inc. directly at the phone number above.
For assistance in electronic transfers, contact Charles Schwab & Co., Inc. directly at the phone number above.
For more information contact: Katherine Cance, Development Director or Tom Atkinson, Board Treasurer, c/o Friends of Los Gatos Public Library, 100 Villa Avenue, Los Gatos, CA 95030 - (408) 354-6895.
Last Updated: 01/25/12
