For US taxpayers, one of the most advantageous ways to contribute to ICS is through a gift of stock. Making a gift of securities is simple and offers a number of valuable financial benefits:
- You can donate appreciated stocks, bonds or mutual funds
- The total value of the stock upon transfer is tax-deductible
- There is no obligation to pay capital gains taxes on the stock appreciation
How to contribute stock
Step 1: Complete Transfer
If the shares are held at a securities firm or other brokerage account:
- Contact your brokerage firm for stock transfer procedures and stock transfer forms
- Instruct the brokerage firm where securities are held to transfer the shares to:
- Receiving Firm: Morgan Stanley Smith Barney
DTC # 0015
Account # 372-090165-157
Account Name: Network of International Schools (NICS)
Attn: John Parker
- Instruct your broker to enter identifying information (i.e. your name and address, phone number, account number, broker information) into the "Text Comment" field of the DTC screen.
- Your institution may require a written Letter of Authorization
Mutual Funds:
There are a few mutual funds, which are DTC eligible and can be transferred via the DTC instructions noted above. The donor's broker or money manager will be aware of the mutual funds eligible for transfer via DTC. If your mutual funds is not eligible for transfer via DTC, please contact the ICS business office (businessmanager@ics.edu.sg) for additional information.
If certificates/shares are in your physical possession:
Please contact the Business Office (businessmanager@ics.edu.sg) for instruction
Step 2: Notify school Business Office
- The actual stock transfer to NICS's account is completed with no accompanying donor information. In order for NICS to identify your gift, credit the ICS account, and send a tax receipt you will need to provide us with the gift details requested below:
- Please notify the ICS-Singapore business office of the stock transfer. Email businessmanager@ics.edu.sg with the following information
- Donor Name(s)
Phone
Address, City, State, ZIP
Name of the Stock
Number of Shares
Approximate Transfer Date
Name of Your Brokerage Firm