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Gifts of Stock
Memorial Hospital of Rhode Island accepts gifts of marketable securities. It is the policy of the hospital to sell all securities as soon as they are received.

You may wonder what a gift of stock may mean to you

Transferring a highly appreciated stock to a charitable organization provides the donor with the opportunity to make a significant charitable gift as well as to receive a tax benefit. If you contribute long-term appreciated securities to Memorial Hospital of Rhode Island, you will receive a twofold income tax benefit: a charitable deduction for the full market value and no tax on the appreciation.

It is important for the donor to transfer the stock to the charity and not to sell the stock first and then transfer the proceeds. Selling the stock first will make the donor liable for the capital gains taxes.

What Stocks Make the Best Gifts?
  • Highly appreciated stocks
  • Stocks paying low dividends

Valuing a Stock Gift
  • Publicly traded stock is valued at the average of the high and low on the day of the gift (mean value).

Date of the Gift
  • The date of the gift is the day the donor loses possession of the stock.
  • For mailed stock, the date is the day the envelope is postmarked.
  • For transferred stock, it is the day of the electronic transfer.

Ways to Transfer a Stock Gift

For Stock Held in the Donor's Brokerage Account

Memorial Hospital of Rhode Island maintains a brokerage account and stock transfer can be made directly to that account by your broker. For the DTC, #0235, and Account Number, please contact the Fund Development Office at (401) 729-2319.

For Securities Physically Held by the Donor

The certificates can be sent by registered mail. The donor should sign a stock power for each certificate, and then send the stock power separately to ensure against fraud if the envelope is lost. Stock can be personally delivered to our office at 111 Brewster Street, Pawtucket, Rhode Island 02860. A stock power for each certificate is required for personally delivered stock, also.

Hand Delivery

Certificates may be delivered to:

Memorial Hospital of Rhode Island
Fund Development Office
111 Brewster Street
Pawtucket, Rhode Island 02860
  • Please do not mail endorsed certificates. Once a certificate has been endorsed, it is legal tender and may be exchanged by anyone at any time.
  • It is strongly recommended that certificates not be sent to a transfer agent for registering in the Hospital's name. This unnecessary procedure can result in needless transfer delays.

Mailing Certificates
  • You may either mail your certificates directly to Memorial Hospital of Rhode Island, if your securities are not held by a broker.
  • When mailing, please send your unendorsed certificate(s) and a cover letter (including your name, address, and purpose of the gift) in one envelope and insure the certificate against being lost in the mail for 2% of the market value. In a second envelope, send a signed, signature guaranteed, stock power. A stock power form may be obtained at your local bank or by calling us at (401) 729-2319. Insure to 2% of market value. This will cover the cost of replacing a certificate lost in the mail.

Electronic Transfer

The most popular and efficient way to transfer securities is by electronic transfer. There is no broker fee or commission charge for this service to you, which means you receive 100 percent of the value of your transfer.
  • If your stock is held by a broker, please notify the broker that you wish to make a gift of securities to Memorial Hospital of Rhode Island. Your broker will need written authorization from you before making the transfer. Please tell your broker the name of the stock that you want transferred, the number of shares, and that you would like your gift to be designated to Memorial Hospital of Rhode Island.
  • Once you have authorized the transfer, please ask your broker to contact us at (401) 729-2319. Our office will give your broker complete transfer instructions.

Memorial Hospital of Rhode Island qualifies under Section 501(c)(3) of the IRS code. Our Federal Tax ID number is 59-0259004.

To learn more about ways in which you can help ensure the future of outstanding healthcare at Memorial Hospital of Rhode Island:

Lynn Foster
Fund Development Office
Memorial Hospital of Rhode Island
111 Brewster Street
Pawtucket, Rhode Island 02860-4499
Phone: 401-729-2319
Fax: 401-729-3867
Have a Question? Call 1-800-647-4362 to speak with our physician referral service


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