Gifts of Appreciated Securities
For friends of Neighborhood Music School who would like to consider a tax-advantaged approach to contributing to the School, we offer the following:
A pledge of securities (stocks, bonds, mutual funds) to Neighborhood Music School can help the School grow and meet its goals for continued service and music education while also helping you.
Low-cost basis securities (that is, investments that have grown in value) usually are taxable as capital gains at the time of sale. By donating the securities to Neighborhood Music School you avoid the capital gains tax and receive the benefits of a charitable contribution at the fully appreciated amount.
If you would like to make a gift of stocks, bonds, or mutual funds, here’s how:
If your shares are held in a brokerage account, simply instruct your broker (in writing) to transfer the shares to our Fidelity Investments account as follows: “Deliver from my account #__________ #__________ shares of (name of stock, bond, or mutual fund) to DTC #0226, National Financial Services Corp., account of Neighborhood Music School #145-180912.” If your broker has any questions, he/she can contact Fidelity at (800) 396-8982. Please send a copy of your letter to Aaron Sorensen, Philanthropic Partnerships Associate, Neighborhood Music School, 100 Audubon Street, New Haven, CT 06510.
- If the shares you wish to contribute are in the form of actual stock certificates, you can endorse the back of each certificate and deliver the certificates in person or via registered or certified mail to Neighborhood Music School, or mail an unendorsed certificate to NMS (attn: Aaron Sorensen) and separately mail a signed stock power with the assignment space left blank.
The Neighborhood Music School’s Federal Identification Number is 06-0662152.
Shortly after NMS receives your gift, we will send you a valuation letter which you can use to document your charitable contribution.
If you have questions,