Gift Securities

Gifts of securities such as stocks, bonds and mutual funds are an easy way to support HealthCorps® and they can provide donors with significant tax advantages. Transferring securities is a straightforward process, and HealthCorps will work closely with you on your gift. You should also consult with your legal and financial advisors about your gift of securities.

Gifts of publicly traded stock, held long term, i.e., for more than 12 months, and that have appreciated in value, offer special tax benefits. In most cases, you can deduct the full market value of the stocks and avoid capital gains tax on the appreciation.

If the value of stock that is donated exceeds $500, to claim a charitable tax deduction you must file IRS Form 8283, Noncash Charitable Contributions with your tax return. HealthCorps must also complete and sign the form. For complete information about gifting securities and filing requirements, consult with your legal and financial advisors.

The procedure used to transfer securities to HealthCorps will depend on how you hold the securities. A description of the transfer process follows for securities held by a stockbroker in an account, for securities in certificate form, for mutual fund shares and for closely held and restricted stock.

LL Cool J, Lisa and Mehmet Oz, Grace and Robert Cavnar, and B.K. Boreyko at HealthCorps’ Enchanted Garden Gala.

Securities Held by your Stockbroker or in an Account
Electronic transfer is typically used to transfer securities held in an account. Securities are moved from one account to another through the Depository Trust Company (DTC).

• Please contact HealthCorps to let them know that a gift is being made. Since DTC transfer information usually does not include the name of the owner of the stocks, stocks sent without advance notification cannot easily be matched to the transfers. HealthCorps will contact its broker to ensure your gift is properly credited.
• Send a letter of instruction to your broker or banker stating your wish to give securities to HealthCorps. The letter must include the name and type of stock, the number of shares (or dollar amount) that you are donating, and the date by which the shares should be transferred, as well as HealthCorps account information. Click here for a sample letter.
• The effective date of your gift will be the date the securities arrive in the HealthCorps account. The value of your gift will be the average of the high and low quotations for that day.
• Note that it generally takes three to five business days to complete a transfer.

Shares in Certificate Form
If you have stock certificates which will be used to make a gift, three documents are needed to make the transfer: a letter of instruction, unendorsed stock certificate(s) and stock power(s). A stock power allows HealthCorps to sell the stock once it has the actual certificates.

• By certified mail, return receipt requested, send a lettr to HealthCorps specifying the organization as a recipient of a gift of stock. The letter must include the name and type of stock, the number of shares that you are donating, and the approximate date of the gift. This letter should be signed by the registered owner of the stock certificates. Click here for a sample letter. The letter of instruction should be accompanied by the unendorsed certificates only. If the certificates and stock powers are sent together and then are lost or stolen, whoever ends up with the securities would have the ability to sell them. The letter and unendorsed certificates should be sent to Fernando Pacheco, Controller, HealthCorps, 191 Seventh Avenue, Suite 2N, New York, NY 10011-1818.
• In a separate envelope, send a stock power form for each certificate to the same address. The stock power forms must be signed exactly as your name appears on the certificate. Stock powers can be obtained from your stock broker or banker, or HealthCorps can obtain these forms for you.
• The value of your gift will be the average of the high and low quotations using the later of the postmarked date from the stock certificate or the stock power form. The date of the gift will be the later postmark of the two envelopes.
• If you have a stock certificate for more shares than you wish to donate to HealthCorps, send the stock certificate(s) and stock power(s) in separate envelopes as described above. The letter of instruction should specify the number of shares you wish to donate. The letter should also include your Social Security Number. HealthCorps will return the remaining shares in the form of a newly registered certificate; allow about six weeks to receive the newly re-registered certificate.

Mutual Fund Shares
The transfer process for mutual fund shares varies slightly depending on how they were acquired.

If you purchased your mutual funds through a broker:

• Send a letter of instruction to your broker or banker stating your wish to make a gift of mutual funds to HealthCorps. The letter must include the fund name, the number of shares (or dollar amount) that you are donating, and the date by which the shares should be transferred, as well as HealthCorps account information. Click here for a sample letter.
• Please contact HealthCorps to let them know that a gift is being made, and ask your broker to send a copy of your letter of instruction to us. Since DTC transfer information usually does not include the name of the share owner, shares sent without advance notification cannot easily be matched to the transfers.
• The effective date of your gift will be the date the mutual funds shares arrive in the HealthCorps account. The value of your gift will be the value of the fund shares at the end of that day.
• Note that mutual fund transfers generally take three to four weeks.

If you own mutual fund shares directly from the mutual fund company:

• Send a letter of instruction to your broker or banker stating your wish to make a gift of mutual funds to HealthCorps. The letter must include the fund name, the number of shares (or dollar amount) that you are donating, and the date by which the shares should be transferred, as well as HealthCorps account information. Click here for a sample letter.
• The mutual fund company will typically provide you with a change-of-ownership form to complete. On the form, indicate how many shares (or dollar amount) you wish to transfer to HealthCorps. In most cases, your signature must be guaranteed (not notarized) by your local bank. If the funds are jointly owned, then both signatures must be on the form and guaranteed.
• Please contact HealthCorps to let them know that a gift is being made, and ask your broker to send a copy of your letter of instruction to us. HealthCorps will provide the additional information needed by the mutual fund company, at which point the transfer can be made.
• The effective date of your gift will be the date the mutual funds shares arrive in the HealthCorps account. The value of your gift will be the value of the fund shares at the end of that day.
• Note that mutual fund share transfers generally take four to five weeks.

Closely Held or Restricted Stock
Closely held and restricted stock may be accepted by HealthCorps under certain circumstances. For unlisted securities, the value of the gift must be determined through an independent appraisal provided by you. The minimum gift for closely held or restricted stock is $50,000. For more information, contact HealthCorps.