Friends of Ballard Park welcomes gifts of stock, which are easy to make with minimum delay and expense, with tax benefits to the donor. The effective date for establishing the gift value is the day the securities pass from the donor’s control into ours. The value is the mean between the high and low quotations on that day, and will be so recorded and acknowledged by the foundation as the donor’s contribution (before any fees are taken). You may use one of the following methods:

If your broker or financial services provider holds the securities for your account and can sell the securities on our behalf without opening a new account, this is by far the easiest method. Have your representative contact Friends of Ballard Park (401.619.3377) with the pertinent information regarding the name of the stock or fund and the number of shares. They should also provide us with your instructions as to the purpose of the gift.

A second method, when securities are held in your account by a broker, is to have the shares transferred electronically. Have your broker contact Friends of Ballard Park at 401.619.3377 with the pertinent information regarding the name of the stock or fund and the number of shares. We will then inform our broker, Charles A. Edenbach, III at A. G. Edwards in Newport, Tel. (401) 848-9949, to expect the shares to be delivered to our account.

In most cases, you may claim the full fair market value of the shares as a charitable deduction for income tax purposes. You must have owned the securities at least one year and a day. Such gifts are deductible up to 30% of your adjusted gross income (AGI) in the year of the gift. Please consult with your financial advisor for specific advice on your situation. This information is not intended as legal advice and is no substitute for legal counsel.

If you wish to donate shares of a mutual fund:
Send a letter to the manager of the mutual fund stating your intention to give by donation the desired number of shares to Friends of Ballard Park and give them our address. The mutual fund manager should be reminded to not sell the shares outright from your account, as that would trigger capital gains tax. Direct the manager to transfer the desired number of shares to our organization. Please remember that each mutual fund has its own procedures about charitable donations of shares.

If you are donating securities, kindly inform us to make sure your gift is properly received, credited and receipted to you. cmcgrath@ballardpark.org.