Gifting Via Direct Electronic Transfer of Securities
Gifting stocks and other marketable securities can be an excellent way to support the ongoing ministry of Noah Webster Educational Foundation while minimizing your tax consequences on appreciated investments. One of the considerations you should be aware of is that your securities need to be transferred directly to Noah Webster Educational Foundation’s brokerage account in order for you to take full advantage of the tax benefits available. If your investment has not appreciated in value it may be more advantageous for you to sell it directly and donate the proceeds to Noah Webster Educational Foundation. Please contact your broker or tax advisor concerning which option is best for you.
To help you in the transfer of stock to Noah Webster Educational Foundation, please follow these steps:
1. Please instruct your broker or institution to do a DTC transfer, sending the shares to:
SEI Private Trust Company
1 Freedom Valley Drive, Oaks, PA 19456
DTC # 2663
Account Number: 1056917
Account Name: Noah Webster Educational Foundation
2. Please call us at (877) 322-6933 with the details of your stock transfer. It is imperative that you contact us with the following information:
- Name of Stock or Security (e.g. – ticker symbol)
- Number of shares
If you or your broker should have any questions, please contact us at (877) 322-6933 or our receiving firm, Legacy Wealth Management at (434) 266-1214. Our policy regarding receipt of investments is to sell those securities upon receipt.
Once we receive notification that the stock has been received by our broker, we will send you a notification letter for your tax purposes outlining the number of shares received and the market value of the securities generously gifted on the date of receipt from Noah Webster Educational Foundation. Thank you for your faithfulness and generosity!