Stocks, mutual funds, bonds, or any other publicly traded securities can be transferred as gifts.
The Advantages of Making a Gift of Stock
- The market value of a gift of stock and securities is tax-deductible, just like any other charitable contribution
- Giving stock or securities has an additional tax advantage over a cash gift: you avoid capital gains tax on the appreciation of the asset
- A gift of stock or securities could increase the value of your gift to Dana-Farber and the Jimmy Fund at a decreased cost to you (see the example below)
How to Make a Gift of Stock
To arrange a stock transfer, please contact:
Dana-Farber Cancer Institute
10 Brookline Place West, 6th Floor
Brookline, MA 02445
Email: dfciask_devfiscal@dfci.harvard.edu
Phone: 617-632-3019
Please provide the following:
- Name of the security
- Number of shares for each security
- Purpose(s) of the gift (that is, how to direct the funds)
- Any special handling details (pledge payment, tribute, etc.)
Not communicating the above may lead to delays in identifying, crediting, and acknowledging your gift.
Shares may be transferred electronically to:
The Leland Group
Merrill Lynch, Pierce, Fenner & Smith Inc.
Attn: Vickie Curran
500 Cummings Center, Suite 1600
Beverly, MA 01915
Phone: 978-921-6729
- DTC number: #8862
- Account number: #5YF-02196 Dana-Farber Cancer Institute
- Dana-Farber’s tax-exempt ID number: #04-2263040
For mutual fund transfers, please contact Vickie Curran at vickie.curran@ml.com.
Compare the following three ways you could give using a $10,000 gift as an example:
| Give a Cash Gift to Dana-Farber and the Jimmy Fund | Sell Appreciated Stock and Give Proceeds to Dana-Farber and the Jimmy Fund | Transfer a Gift of Appreciated Stock to Dana-Farber and the Jimmy Fund | |
|---|---|---|---|
| Fair Market Value (FMV) of Gift | $10,000 | $10,000* | $10,000* |
| Long-Term Capital Gains Tax ($4,000 x 15%) |
N/A | $(600) (Due to the IRS Tax on Appreciated Stock) |
$600 (Capital Gains Tax Savings) |
| Income Tax Savings** ($10,000 x 24%) |
$2,400 | $2,400 | $2,400 |
| Total Tax Savings (Capital Gains Tax Savings + Income Tax Savings) | $2,400 | $1,800 | $3,000 |
| Net Cost of a $10,000 Gift (FMV of Gift - Total Tax Savings) | $7,600 | $8,200 | $7,000 |
*For which you paid $6,000 and have a $4,000 capital gain
**This example uses a 24% tax bracket
Always consult with your tax advisor for specific tax information when giving securities, as certain limitations to deductions may apply.
Are You a Financial Advisor?
If your clients are looking to make a gift of stock, please note Dana-Farber's tax ID number is 04-2263040. Please see our Resources for Advisors for more information.