SaveSaveSaveSaveSaveSaveSaveSaveSaveSaveSaveSaveSaveSaveSaveSaveSaveSaveSaveSaveSaveSaveSave

GIVING STOCK

Methods for giving securities to the Music Conservatory of Westchester.

The following methods are listed in order of preference. The Music Conservatory of Westchester advises donors to consult their personal tax advisors regarding the tax consequences as they apply to the donor at the time of transfer. Conservatory staff cannot legally provide tax or estate planning advice.

Contact:
Mack Cunningham, Chief Operating Officer
(914) 761-3900 ext. 139
mack@musiced.org

Instructions and Methods for Donating Securities:

  • 1. If your broker holds the securities you wish to give to Music Conservatory of Westchester, instruct him/her to transfer them to the Music Conservatory account.
    • In order for the Conservatory to properly acknowledge your gift, please contact or have your broker contact Mack Cunningham, Chief Operating Officer at (914) 761-3900 ext. 139 or mack@musiced.org with your name, the name of the securities, number of shares, expected date of transfer, and any other questions.
    • Gift is valued by the Conservatory at the mean price (high and low averaged) on the day the stock is received in our account.
  • 2. Mail the unendorsed stock certificate(s), registered in your name, to Mack Cunningham, Chief Operating Officer at Music Conservatory of Westchester, 216 Central Avenue, White Plains, NY 10606. In a separate envelope, mail a signed stock power, available from your broker.
    • Gift is valued by the Conservatory at the mean price on the day the later of the two envelopes (stock certificates and signed stock power) is postmarked.
  • 3. It is possible to endorse a security and deliver it to the Conservatory, however, it may be some time before the transfer of the stock is actually accomplished on the books of the corporation. Therefore, this method is not recommended.
  • 4. When giving other types of securities, such as mutual funds, bonds or notes, specific advice from your broker or other advisor should be obtained.