Stock & Mutual Funds
Looking for a tax-wise way to keep the shelves stocked at New York City's food assistance programs? Are you holding shares that have appreciated significantly in value but pay a low dividend? Consider donating appreciated securities (stocks, bonds or mutual funds you've held for more than one year) to the Food Bank. By doing so, you may be able to reduce or avoid capital gains taxes and receive a federal income tax charitable deduction. And for every dollar donated, you'll help provide five meals to New Yorkers in need.
Food Bank For New York City accepts the following transfer methods for gifts of securities:
Electronic Transfer
To transfer securities to the Food Bank, i.e. via Depository Trust Company (DTC), please provide the DTC transfer instructions to your broker. The securities will be transferred directly into our gift account at our broker.
In order to properly credit the gift, it is important that you or your broker notify us of the gift and its intended purpose, and for the broker to reference your name in the DTC transfer instructions.
Mutual Fund Transfer
We recommend that you or your broker contact the mutual fund representative or our Philanthropy department at 212.566.7855 ext 2229 when gifting units of a mutual fund.
The procedure for doing so may vary from one mutual fund to another. In some cases, the units may be transferred directly to our gift account via DTC. In other cases, the Food Bank may be required to open an account with the fund and have the gifted units transferred into that account.
For further information, contact Peter W. Jones, Director of Individual & Major Giving, at 212.566.7855 ext 2261.
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