Transferring stock is an excellent way to support Road Scholar’s mission of lifelong learning — offering increased value for your gift and potentially reduce your tax costs. Donors who contribute appreciated securities held longer than one year can:
Receive a charitable tax deduction for the full market value of the securities.
Avoid paying capital gains taxes on the appreciated assets.
Transferring Gifts of Stock to Road Scholar
Transferring stock is easy, whether your bank, your broker or you hold the securities. The value of your charitable deduction is determined by the security’s market value on its delivery date. Please contact us in advance of the stock transfer so we can expect its delivery and properly credit your gift to you.
When your bank or broker holds the stock
Instruct your broker or agent to directly transfer the stock by wire into Road Scholar’s brokerage account (listed below). You will need to confirm your conversation with a letter of instruction to your broker and send a copy to Road Scholar. The delivery date is the date the stock is transferred. Please inform us in advance of your intention to transfer stock to our brokerage account by calling us at (877) 737-0664 (toll-free).
First National Bank of Omaha DBA TD Ameritrade 16th & Dodge St. Omaha, NE 68102 1-800-669-3900 DTC Clearing 0188 Account Name: Elderhostel, Inc. d/b/a Road Scholar Account Number: 883754662
When the stock is in your name and in your possession, you can mail the unsigned stock certificates to:
Ann Simanis, Associate V.P. of Development Road Scholar, Inc. 11 Avenue de Lafayette Boston, MA 02111
In a separate envelope, you must also send two other items to Road Scholar:
A stock power — a formproviding documentation that you intend to transfer ownership of the stock. You can download this stock power form here or obtain a stock power from your bank or broker. Sign the stock power, but please do not fill in anything else. If you use your bank or broker’s form, please verify that everything else on the form is blank, including the name of the “Attorney to transfer the stock.”
A Third-Party Release form, which can be downloaded here. This form requires a medallion signature guarantee from a commercial bank, savings and loan, trust company or credit union. It is critical that you mail the stock power and third-party release separately from the stock certificates. This keeps the stock safe from theft en route because it is not negotiable without the power, and the power is worthless without the certificate. (You can mail these separate documents on the same day). The transfer date is the postmark date.
Gifts of Mutual Fund Shares
Please ask us for instructions about making a gift of appreciated mutual fund shares. These gifts can take several weeks to complete, so you will need to plan ahead in order for your gift to be made in the year in which you wish to benefit from a charitable gift deduction. We are grateful to receive gifts of appreciated securities or mutual funds and will promptly confirm receipt of your advance notification and your gift.
The purpose of this website is to provide general information only. For advice in specific cases, the services of an attorney or other professional advisors should be obtained.