What is it?
A bequest is a gift of property or assets in a will or trust to a beneficiary. This is the easiest and most common way for many of our supporters to make a planned gift.
How does it work?
You can make a bequest to StepStone by naming us in your will or trust. Because specific language is required for this type of gift to be effective, and to ensure the appropriate estate tax treatment, please see your lawyer to make sure your wishes are carried out. An example of such a bequest is:
I give and bequeath the sum of _________ dollars ($_________) to StepStone, Inc., to be held or expended as determined by the governing board of such charity, without restriction.
What is my benefit?
By donating property in your will or trust, you not only experience the joy of giving but also the potential benefit of your estate claiming an estate tax deduction upon your death.
Gifts of appreciated securities or mutual fund shares can be a very effective and tax efficient way to support the charitable works of StepStone.
Your financial advisor can help you decide if you want to give stock that has grown in value, referred to as appreciated stock. People who give appreciated stock as a gift can usually avoid paying capital gains tax.
To begin the transfer process, call or email the development office and advise us of the gift. Staff will provide instructions to you or to your financial advisor. Once in the gift account the stocks will be sold. You will receive a receipt by mail noting the number and name of the stocks gifted.
Gifts of appreciated securities and mutual fund shares are usually deductible for income tax purposes. Furthermore, giving appreciated securities or shares can allow you to avoid paying capital gain tax on the donated securities. You will still obtain the full income tax deduction for your donation based on the market value of the securities or shares at the time you give them. Once received, they will be sold.
While StepStone is willing to consider gifts of closely held stock or other interests (for example, interests in companies and partnerships not traded on a public exchange), such interests present unique challenges and potential problems for them. For this reason, any proposed donations of closely held interests are carefully reviewed and will be accepted infrequently.
How to transfer stock gifts.
For transfer directly through our broker:
National Financial Services (NSF)
Carey, Thomas Hoover and Breault
DTC # 0226
Account # WC3-001206
Our account representative is:
Carey Thomas Hoover and Breault
8080 E Central, Ste. 200
Wichita , KS 67206
316 – 634-2222
When you make a gift of stock directly to our broker, it is a good practice to notify the development office. This helps insure your gift is recorded and recognized in a timely manner. You should also indicate if your gift is intended for StepStone.