Donating stock to United Way of King County is easy and convenient. Those who donate stock enjoy numerous benefits, including:
- Claiming the market value of the securities as a tax-deductible contribution (as opposed to the cost basis).
- Avoiding capital gains tax, local and state taxes on the profit from the sale of securities.
- Lowering the cost basis of the gift.
There are three ways to give stock
1. Go through your own broker
- Please complete a pledge form and fax/ mail a Stock Transfer Authorization letter to your broker and to United Way of King County. Notifying United Way of King County of any transaction will ensure that your gift will be processed expediently. Please use this sample letter.
2. Take your stock to United Way of King County
- Deliver your stock certificate to: United Way of King County, Major Gifts, Financial Operations, 720 Second Ave. Seattle, WA 98104.
- If stock is in your name, a signature(s) as shown on certificate is required.
- Complete a certificate release request and have your signature medallion guaranteed by a brokerage firm.
- United Way’s broker will sell stock upon authorization by United Way of King County and forward notification and proceeds to United Way of King County for completion of processing.
3. Give stock via a trust account
- Notify trustee.
- Advise trustee of United Way of King County broker and contact name and address (see above).
- Trustee can have stock registered in United Way of King County’s name and mail certificate (to addresses above) or have stock transferred to United Way of King County broker account number (account number at brokerage firm). DTC transfer information: DTC Participant (DTC number of brokerage firm).
- If stock is in United Way of King County’s name, Audit Services Dept. will transfer to United Way’s broker for sale.
- Submit in writing to trustee/broker/United Way of King County the specifics of the transaction; provide United Way of King County with name, firm (if part of an employee gift), stock name, number of shares, and any specific designations for proper accounting treatment.
In order to avoid the capital gains tax, donors must give the stock directly to United Way of King County. It is United Way of King County’s policy to sell stock immediately upon receipt.
For your convenience, United Way of King County has brokerage accounts established with three firms.
Stock must be transferred and received in the United Way of King County stock account no later than end of market day on December 31 to be credited for the current tax year.
Please note that timing of a stock transfer has many variables and can take more than one week from when stock is transferred to when proceeds are delivered to United Way of King County’s account. Please work with your Donor Relations Manager to ensure a timely transaction.
If you would like more information, please call the Major Gifts Department at 206.461.5046 or firstname.lastname@example.org.