Donating appreciated shares of marketable securities like stocks, bonds and mutual funds is an attractive, tax-wise alternative to a cash contribution. Benefits to you include the following:
- You will have lower out-of-pocket costs for your contribution.
- You may avoid capital gains tax by giving the appreciated securities directly to Rush to sell.
- You may take a charitable income tax deduction, as defined by law, equal to the value of the donated securities on the date the gift is irrevocably transferred to Rush.
Contact your broker and request that shares be transferred from your account to Rush’s account at Northern Trust via the Depository Trust Company (DTC).
To execute an electronic stock transfer, use the following:
- Rush University Medical Center’s DTC participant number is 2669
- Stock should be transferred directly to the Medical Center’s account at Northern Trust (#26-19328)
Write a confirmation letter should to the Office of Philanthropy at Rush. Please include the following:
- Name of the donor and of the security (with CUSIP number, if available)
- The number, type of shares (i.e. common or preferred) and date transferred
- The gift’s intended purpose
Please send your confirmation letter to the following address:
Olga Bugarin, Director, Gifts and Records Management
Rush University Medical Center
1201 W. Harrison St., Suite 300
Chicago, IL 60607-3319
Or by fax: (312) 942-5581
The transaction date, for gift verification purposes, is the date shares are electronically transferred to Rush’s account at Northern Trust.
If you prefer to donate securities held in physical form, please send the certificate to our address above, and we will forward it to Northern Trust. You may need to complete and sign the back of the certificate first and include the signed stock power under separate cover.
The transaction date, for gift verification purposes, is the date when Rush receives both the stock certificate(s) and an executed stock power.
Whichever method of transfer you choose, we recommend that the market value be determined in cooperation with your tax preparer for income tax purposes.
Questions? Contact Olga Bugarin, director of gifts and records management, at (312) 942-6117 or firstname.lastname@example.org.