Gifts of Securities
Securities may be handled through your bank or broker or handled by you, directly.
When using your broker or bank, the transfer may be made electronically. National Financial Services, acting as agent for the Westport Library Association, is set up to receive such transactions. You simply advise your agent to send the transfer information to:
National Financial Services, as agent for Westport Library Association
DTC #226
Account Number BR3-007048
Please advise the Library’s Business Manager at (203) 291-4803 when these instructions have been given. We will need to know the name of the stock and the number of shares being transferred. Library staff will then alert its agent that the transfer is forthcoming. This allows the agent to “double check” receipt of the transaction.
You may mail or hand deliver unendorsed stocks or bonds to the Westport Library Association. The securities should be accompanied by a letter of transmittal, including your name and address, and a signed stock or bond “power.” If you are mailing the securities, in a separate envelope, please include a blank, but signed, stock or bond “power” for each corporation or other organization whose securities you are donating. With the signed powers, include a copy of the transmittal letter. If the certificate is in a corporate name a Corporate Resolution is required, signed by a duly authorized corporate officer.
The date of a gift of securities for tax purposes is the date the securities (and signed stock powers, if applicable) are delivered to the Westport Library Association, or placed in the mail properly addressed to the Library or released by an agent for the account of the Westport Library Association. The value of exchange-listed securities on the date of gift is the average price as quoted by the markets on that date.
Securities may be handled through your bank or broker or handled by you, directly.
When using your broker or bank, the transfer may be made electronically. National Financial Services, acting as agent for the Westport Library Association, is set up to receive such transactions. You simply advise your agent to send the transfer information to:
National Financial Services, as agent for Westport Library Association
DTC #226
Account Number BR3-007048
Please advise the Library’s Business Manager at (203) 291-4803 when these instructions have been given. We will need to know the name of the stock and the number of shares being transferred. Library staff will then alert its agent that the transfer is forthcoming. This allows the agent to “double check” receipt of the transaction.
You may mail or hand deliver unendorsed stocks or bonds to the Westport Library Association. The securities should be accompanied by a letter of transmittal, including your name and address, and a signed stock or bond “power.” If you are mailing the securities, in a separate envelope, please include a blank, but signed, stock or bond “power” for each corporation or other organization whose securities you are donating. With the signed powers, include a copy of the transmittal letter. If the certificate is in a corporate name a Corporate Resolution is required, signed by a duly authorized corporate officer.
The date of a gift of securities for tax purposes is the date the securities (and signed stock powers, if applicable) are delivered to the Westport Library Association, or placed in the mail properly addressed to the Library or released by an agent for the account of the Westport Library Association. The value of exchange-listed securities on the date of gift is the average price as quoted by the markets on that date.
dcelia@westportlibrary.org