Gifts of Stock
Operation Helmet accepts gifts of securities, including donated shares of publicly-held corporations, stock options and shares of mutual funds.
To make a stock gift, notify your broker that you wish to transfer securities into Operation Helmet’s brokerage account at Union Bank of California. You will need to give your broker the following information:
FBO: Operation Helmet/Wells Fargo
Account Number: 4440-0835
DTC Number: 0733
Attention: Damon Davis
Direct Line: 409-833-2342
It is very important that you notify Operation Helmet about the gift transaction at the same time you instruct your broker to transfer securities into our Wells Fargo brokerage account.
In order for us to properly receive the gifted shares into our account and to provide an accurate and timely acknowledgement for your tax records, please send us:
- A concurrent notification with the donor’s name
- The type and number of shares being transferred
- The name and phone number of the donor’s broker
This notification should be sent to:
Treasurer, Operation Helmet
74 Greenview St
Montgomery, TX 77356
Voice – (409) 882-2342
E-mail – Major Gifts
A gift of appreciated securities held for more than one year may bring about significant benefits to you as a contributor to Operation Helmet:
- You become entitled to a charitable income tax deduction for the fair market value (FMV) of the donated securities as of the date of the gift.
- You can eliminate capital gains tax that would ordinarily become due if you had sold the appreciated securities on the open market and then donated the process from the sale to a charitable organization.
- Your charitable deduction can be claimed against a maximum of 30% of your adjusted gross income and any unused deductions can be carried forward over the next five years.
- You can achieve your long-term financial objective of reducing your income and estate taxes by making a gift of appreciated securities to Operation Helmet.
- If you have in your stock portfolio securities that have declined in value, you may find it more beneficial to sell the securities first and then contribute the cash proceeds to Operation Helmet as opposed to gifting the shares outright. This strategy may allow you to claim a deduction for both the losses from the sale of the securities as well as the charitable gift.
- Stock options that have not yet matured can also be donated with potential substantial tax savings to Operation Helmet’s donors. Operation Helmet will hold the securities until the option becomes effective and then convert the shares to cash.
You should always consult with your financial advisor before initiating a charitable gift arrangement.
If you have any questions regarding Operation Helmet’s Stock Gift Program or acknowledgement of your stock gift, please contact Dick Vetter, Treasurer, Operation Helmet, (936) 449-5706, E-mail – Major Gifts