Gifts of Stock or Securities
By giving securities (stocks, bonds, mutual funds) to CMSS, you help ensure that music education is accessible to all, creating transformative experiences for people of all ages and abilities – and it also helps you!
Securities that have appreciated in value generate capital gains taxes at the time of sale. By donating appreciated securities held for more than one year to CMSS – a 501(c)3 organization – you can avoid capital gains taxes and instead deduct for tax purposes the fully-appreciated market value of your contributed asset.
Transfer Options:
1) If your shares are held in a brokerage account:
Instruct your broker (in writing) to “deliver from my account #[account number], [number of shares] shares of [name of stock, bond or mutual fund] to Schwab DTC #0164, St. Germain Investments, account of Community Music School of Springfield Inc. #3081-1798.”
Please send a copy of your letter to Sierra Simmons, Director of Finance and Operations, CMSS, 127 State Street, Springfield, MA 01103. You can also use this PDF to provide our information to your broker.
2) If your shares are in the form of actual stock certificates:
Endorse the back of each certificate and deliver the certificates in person or via registered or certified mail to CMSS, or mail an unendorsed certificate to CMSS (attn: Sierra Simmons) and separately mail a signed stock power with the assignment space left blank.
Community Music School of Springfield’s Federal Identification Number is 22-2501478.
Shortly after CMSS receives your gift, we will send you a valuation letter with which you can document your charitable contribution.