Gifts of stock are a win-win way to support VMFA. Gifts of publicly traded securities that have appreciated in value allow you to claim a charitable deduction for the full market value of the securities on the date the gift is made. You pay no capital gains tax on the appreciation and the museum receives the full value of the gift.
To make a gift of securities to VMFA, please follow the directions below:
- Instruct your broker to transfer the chosen securities to one of VMFA’s brokerage accounts via the Depository Trust Company (DTC). VMFA’s account information is listed below.
- Notify VMFA that you have initiated the gift so that we may properly allocate the funds and provide you with a tax receipt. Contact Shanna Chandler, VMFA Senior Advancement Services Manager, at 804.340.1648 or firstname.lastname@example.org with your broker’s name and phone number, the stock you wish to give including the number of shares, and the intended purpose of your gift.
- Once the securities have been transferred by the DTC, VMFA will be notified that your gift has been received.
Contact: Mary Hagan
DTC Number: 0226
Account: VMFA Foundation
Account Number: WA7134758
Contact: Marie C. Barté
DTC Number: 0443 (Pershing)
Account: Virginia Museum of Fine Arts Fdn.
Account Number: DA4001826
Closely held securities
Gifts of stock in closely held corporations may result in substantial tax benefits in the form of charitable deductions and avoidance of capital gains taxes. Closely held securities can be especially attractive in funding charitable remainder trusts or charitable remainder lead trusts. Because special regulations apply to gifts of this kind, we encourage you to consult your tax adviser when considering such a gift.
A non-cash gift, also called an in-kind gift, is a non-monetary contribution of personal property or professional services that benefits VMFA in a variety of ways. These important gifts help the museum achieve our mission and reduce expenses or obtain materials or services we could not otherwise afford.