New Mexico School for the Arts’ preferred method of transfer of stocks held in “street name” is via electronic transfer. If the stocks are DTC (Depository Trust Company) eligible, they may be transferred electronically to New Mexico School for the Arts’ account at Avalon Trust.
Avalon Trust: DTC# 0226
Account Information: New Mexico School for the Arts #645-024986
The value of a charitable gift of readily marketable stock is based on the mean between the high and low share price on the day the stocks are received into an account at New Mexico School for the Arts. Please note: A donor’s instructions to a broker to transfer stock are not sufficient to complete the gift. The date of gift is the date that the DTC actually transfers your stock into a New Mexico School for the Arts’ account.
While it is possible to have stocks reissued in a charity’s name, we do not recommend this method of transfer for charitable gifts. The time delay in the reissue process may cause a variance in the value of the stocks, and the official date of the gift is the date the stocks are reissued in New Mexico School for the Arts’ name, rather than the date the donor authorized the transfer. This might cause the gift date to fall in a tax year or New Mexico School for the Arts’ fiscal year different from the one intended by the donor.
New Mexico School for the Arts – Art Institute
Tax Identification Number: 26-4764395
To assure proper crediting of the gift, please contact Cindy Montoya or Becky Anderson (listed below) in the Advancement Office directly via mail, email or telephone with the following information:
- Name of the donor
- Name of the stock to be transferred
- Number of shares and/or approximate gift value
- Gift designation (Annual Fund, Capital Gift)
If you have questions or would like further information, please contact:
Cindy Montoya, President
email@example.com | 505.216.7888 x410
Becky Anderson, Director of Advancement
firstname.lastname@example.org | 505.216.7888 x409