South Carolina State Museum Foundation Accepts Stock, IRA, and Matching Gifts
The South Carolina State Museum Foundation (SCSM Foundation) has introduced new options for supporters to contribute, such as stock donations, IRA gifts, Donor Advised Fund contributions, and corporate matching gifts. When donors give appreciated publicly traded securities, they can deduct the entire market value on the gift date without incurring capital gains tax on the appreciation, allowing the SCSM Foundation to benefit from the full amount. To donate securities, donors should instruct their broker to transfer the selected securities to the SCSM Foundation's Merrill Lynch brokerage account, DTC Number 8862, Account: South Carolina State Museum Foundation, Account Number 72602870, EIN: 57-0713243. Additionally, donors need to inform the SCSM Foundation about the gift initiation for proper fund allocation and receipt issuance. The museum is closed today; visitors are encouraged to check the museum's website for planning and directions.
Key facts
- The SCSM Foundation accepts gifts of stock, IRA contributions, Donor Advised Fund gifts, and company matching gifts.
- Gifts of appreciated publicly traded securities allow a charitable deduction for the full market value on the date of the gift.
- Donors pay no capital gains tax on the appreciation of gifted securities.
- The SCSM Foundation receives the full value of the gift.
- Securities transfers go to the SCSM Foundation's Merrill Lynch brokerage account.
- Merrill Lynch DTC Number: 8862.
- Account: South Carolina State Museum Foundation, Account Number: 72602870, EIN: 57-0713243.
- Donors must notify the SCSM Foundation after initiating a gift so funds can be allocated and a receipt provided.
Entities
Institutions
- South Carolina State Museum Foundation
- Merrill Lynch
Locations
- South Carolina
- United States