Check or Money Order
Make your check or money order out to Westerly School, note in the memo area what your gift is intended for (e.g., Westerly Fund or Auction), and then mail it:
Westerly School of Long Beach
Attn: Advancement Office
2950 East 29th Street
Long Beach, CA 90806
You can also, of course, drop your check or money order off at the front office!
Stocks and Appreciated Securities
Donating gifts of appreciated securities – like stocks and mutual funds that have been held for more than 12 months – can be advantageous to many donors. The document linked below contains detailed instructions on how donors can complete a stock gift:
Gifts of Appreciated Securities
If you have any questions or need assistance, please reach out to Mary-Ellen Lavigne, Director of Advancement, by email or at 562-981-3152.
Additional Information
Policies and Procedures
The policy of the Westerly School Board of Trustees is to sell all gifts of appreciated securities the same day they are received and to document the value of the gift received per IRS regulations, specifically as described in Publication 561 - Determining the Value of Donated Property. The difference between the tax value of the gift and the sale price of the securities is accounted for as an investment gain or loss. Any brokerage fees incurred by Westerly School are not deducted from the value of your gift. The date of your gift is determined, for tax purposes, as the date the securities left your control. See Publication 561 for specifics.
Tax Savings for Donations of Appreciated Securities
You can realize two tax savings by contributing stock as a gift to Westerly School:
- Deduction for charitable contribution. Federal and state tax law permits taxpayers who itemize to deduct the current value of charitable contributions from their adjusted gross income. To qualify for such a deduction, the stock must have been held by the taxpayer for more than one year.
- Save on capital gains tax. Contributions of stock may have no tax liability on the difference between the cost of donated stock and its current, fair market value. That is, there may not be tax on the capital gains. Here's how it can work:
Assume you purchased 100 shares of XYZ Corp. in 1988 for $2,000. Today, the shares are worth $10,000. If you sold the stock, you would realize an $8,000 capital gain. Under current tax rules, you could owe as much as $1,600 in federal capital gains tax (plus more in state taxes). You decide to make a $10,000 gift to Westerly School. Normally, you make your gift by an online donation or check, but this year you decide to see whether a stock gift would work better for you. Your comparisons are (federal tax benefits only):
| Option A | Option B | Option C | |
|---|---|---|---|
| Gift Value | $10,000 | $10,000 | $10,000 |
| Gift Mechanism | Donate securities | Donate by check | Sell securities; donate proceeds |
| Ordinary Income Tax Savings | $3,960 | $3,960 | $3,960 |
| Capital Gains Tax | $1,600 saved | N/A | $1,600 paid |
You become entitled to a charitable income tax deduction for the fair market value of the gifted securities as of the date of the gift. You eliminate capital gains tax that would ordinarily become due if you had sold the appreciated securities on the open market and donated the proceeds from the sale to Westerly School. Your charitable deduction can be claimed against up to 30% of your adjusted gross income and any unused deductions can be carried forward over the next five years. This helps you to achieve your long-term financial objective of reducing your income and estate taxes.
Handling Depreciated Securities
If you find that you have securities that have declined in value over the years and are interested in donating them, you may find it more advantageous to sell the securities first and contribute the proceeds as opposed to donating the securities outright. This strategy should allow you to claim a deduction for both the loss from the sale of securities as well as the charitable gift.
Cash Mergers or Tender Offers
If you are considering donating stock that is subject to a cash merger or tender offer, it is important for you to note that you will be subject to tax on the capital gain even though the shares were transferred to Westerly School before the tender offer became effective.
Important Note Regarding Year-end Transactions
Westerly School is obligated to record your gift as of the day it is received into its brokerage account. Consequently, given the increased volume of year-end gift transactions, it is advisable for you to plan your year-end charitable giving as early as possible. You may wish to have regular communications with your broker to ensure that the transfer has actually taken place. These steps should help to assure you receive proper credit for your gift within the tax year desired.
Get Proper Tax Advice
Westerly School does not make any representations as to the accuracy of the above information. You should always consult with your financial advisor or tax professional before initiating a charitable gift arrangement.
Donor-advised Fund
Directing a gift through a donor-advised fund (DAF) is relatively simple with most providers:
- When specifying the organization, please make sure you've selected WESTERLY SCHOOL OF LONG BEACH with the tax identification number 33-0467625.
- Please request that your institution mail the check to the school at the following address: Attn: Advancement Office, 2950 East 29th Street, Long Beach, CA 90806.
- If your institution requires a name for the letter to be addressed to, please use Mary-Ellen Lavigne, Director of Advancement.
- When asked to designate a purpose for the funds, please indicate Westerly Fund, Auction, etc. Alternatively, you can choose the “where needed most” default option; Westerly School's policy is to apply gifts with that designation to the Westerly Fund absent any other communication from the donor about their intentions.
- Once you've recommended the gift to your institution, please notify the Westerly School team via email of the details and, if possible, provide the receipt or confirmation. (While not required, this helps ensure gifts are properly documented when received.)
- If there are any issues – or if your donor-advised fund needs any documentation from Westerly School – please email the Advancement Office with the specifics of what they need, and we'll make sure everything is set from there.
Matching Gifts
Multiply the impact of your donation!
Did you know that thousands of companies match donations by employees to non-profit organizations like Westerly School? It's easy to get started; just search for your company's name below, and we may be able to help speed you on your way to doubling your gift's impact! | OUR INFORMATION93% of all donors submit matches electronically. When submitting a matching gift through your company's electronic portal – or if your company still uses a paper form – you may need the following information: Our Tax ID/EIN Our Mailing Address Our Contact Information |
