Thank you for your continued support of the Temple.
Below are the details for stock transfer to the Hindu Temple Association –
- Electronic Transfer of Stocks – preferred option. No additional paperwork, no additional signatures to obtain, fast and direct.
The following details will enable you to transfer the stocks electronically. Provide your broker with the following:
- Name of the company’s stock you want to donate
- How many shares you want to donate
- As of what date (has to be in future, not past) you want this transaction to be effected.
Hindu Temple Association has a brokerage account with M&T Securities.
Address: M&T Securities Inc., 285 Delaware Avenue, Suite 2000, Buffalo, NY 14202-1885.
Account number: AZD-955185 (DTC# 0443)
It clears through Pershing LLC (800-742-9949, option2)
- Paper-Certificate Transfer of Stocks – fall back option. Involves paperwork & signatures, more time involved than Electronic transfers.
This option requires you to :
- Obtain the paper Stock-certificate and endorse it to “Hindu Temple Association” , Tax-id: 51-0312741, Address: 760 Yorklyn Road, Hockessin, DE 19707.
- Complete Letter-of-authorization form
- Sign both the Stock-certificate and Letter-of-authorization in front of a bank officer, and get both documents certified with a “MEDALLION SIGNATURE GUARANTEED” (this is different from Notary signature)
- Contact Arathi Jayaram (Email: firstname.lastname@example.org , Ph: 302.235.0533) or Patibanda Sarma (Email: email@example.com , Ph: 302.562.4761) to complete the transfer.
For both options:
For tax purposes, you can write off the average of min and max of the day the stock transfer is completed. Temple can keep the stocks as long as they want and sell at an appropriate time.
You can donate appreciated stocks to Hindu Temple Association and avoid the capital gains tax. This is really a boon to those who own appreciated stocks. Not a bad option to even those who own depreciated stocks.
Even in these instant stock transaction days, transfer to non-profits takes about a week. Please consider sending any pledge balances and new donations before Dec 31, to tax-deduct for that same year. Please consult your tax advisor.