GIFT OF STOCK

Why make a gift of stock?  

If you itemize your tax returns, gifts of securities entitle you to a federal income tax charitable deduction. In the case of appreciated securities, you may deduct the full fair market value of your gift once you have held onto the securities for at least one year. You are permitted to carry any unused deduction forward for up to five additional years. In addition, you will avoid paying capital gains tax on the stock you donated to PEN American Center.

Because electronic transfers are made without identifying the donor, please alert us in advance about the stock and number of shares you plan to give. You can do so by e-mailing rdeshotel@pen.org or calling (212) 334-1660, ext 102.

According to IRS regulations, the date of your gift corresponds to the date it arrives in our possession (for transfers from brokerage account to brokerage account).

Following is the information necessary to transfer stock to our account:

Electronic Transfer

If your stock is held in brokerage account, your broker can transfer your gift electronically. He or she will need the following information:

DTC #: 0226
Account Name: PEN American Center
Account #:
Brokerage:

Physical Delivery

If you hold the securities, mail or hand deliver the certificate(s) without any endorsement or assignment to:

PEN American Center
Attn: Robyn DesHotel
588 Broadway, Suite 303
New York, NY 10012

In a separate envelope, mail or deliver a signed stock power form for each gift -- except for your signature, the stock power form should be blank -- and gift letter. The gift letter should state your intention to make a gift of the securities to PEN American Center.

You can request a stock power form by calling (212) 212-334-1660, ext 102 or emailing us at rdeshotel@pen.org. You can also obtain a stock power form from your bank or broker. Please sign the stock power exactly as your name appears on the stock certificate.

Questions?

If you have any questions about giving stock, call PEN American Center's Director of Finance at (212) 334-1660, ext 102 or send us an email at rdeshotel@pen.org.