Gifts of securities are another way to support the Archives Partnership Trust and often offer a donor significant advantages.
For example, donors may receive an income tax charitable deduction based on the market value of the security at the time of the gift. Donors may also want to consult with their financial consultant to confirm that with a gift of security they may avoid capital gains tax on the appreciated value of the securities.
Valuation
The value of your gift is based on the average of the high and low prices on the trading day that the stock is received by the Archives Partnership Trust multiplied by the number of shares received.
The Date of a Gift of Securities
The date of a gift of securities is the date the stock is received by the Partnership Trust, not the postmark date if sent by registered mail.
How to Make a Gift with Stocks and Bonds
If your shares are held in a brokerage account:
If your shares are held in a brokerage account (street name), then an electronic transfer can be made from your account directly to the Archives Partnership Trust account. The Partnership Trust can provide you delivery instructions so that you can direct your broker to transfer shares electronically through the Depository Trust Company (DTC).
Note, as electronic broker-to-broker transfers are overnight transactions, the stock gift must leave your brokerage firm one business day prior to the day by which you want the Trust to receive it.
For more information contact the Trust or contact the Trust's financial services firm, Janney Montgomery Scott, LLC at:
- Paul Murray: 518-426-6249
- John Suits: 518-426-6253
- main phone line: 518-426-8227
- fax: 518-426-3301
If you hold shares in certificate form:
If you hold shares in certificate form, you will have to give your certificates to the Archives Partnership Trust. Certificates should be endorsed and accompanied by a letter of instruction authorizing the deposit of your shares to the Archives account. Shares can be hand-delivered or sent registered mail to the Partnership Trust office.
IRA Charitable Rollovers
The Protecting Americans from Tax Hikes Act of 2015 included a permanent extension of the IRA Charitable Rollover which allows individuals 70 1/2 and older to donate up to $100,000 via direct transfer from their IRAs to eligible charities, without first having to recognize the distribution as income.
However, while the Trust is a 501(c)(3) non-profit, it is additionally classified as a 509(a)(3) Supporting Organization. 509(a)(3) Supporting Organizations are not eligible for direct "qualified charitable distributions" from an IRA. IRA holders may alternately consider taking a distribution, if eligible, from their IRA, pay taxes on that withdrawal, use the proceeds to make a donation, and then claim an income tax charitable deduction.
As the Trust cannot offer tax or legal advice, donors are advised to consult their IRA custodian and/or tax advisor about their specific situation.
For more information, please contact the Archives Partnership Trust at 518-473-7091.
For reference, our Tax ID # is 14-1776509. Our legal name is New York State Archives Partnership Trust.
