Many people choose to contribute to The Cleveland Orchestra by transferring securities rather than making a direct contribution of cash. Should you choose this method of giving, you will not pay any capital gains tax on your gift, and you may be able to claim a Federal income tax deduction based on the full fair market value of the securities on the effective date of your gift.
Listed below are three ways to make a gift of stock to The Cleveland Orchestra. Please read these instructions to help determine how you may want to handle the transaction.
IMPORTANT: To ensure that you are properly credited and acknowledged for your gift, please call The Cleveland Orchestra with the specifics of your stock gift. Call 216-231-8006 before mailing your gift.
To make a direct transfer from your broker to the Orchestra's broker, Merrill Lynch (DTC Transfer):
1. Notify Dave Stokley, JD, Legacy Giving Officer at The Cleveland Orchestra, by calling 216-231-8006, or by email to firstname.lastname@example.org.
2. Provide the following information to your broker in order to transfer the stock to Merrill Lynch:
i. DTC#: 8862
ii. Account name: Musical Arts Association
iii. Account number: 617-02443
3. Your broker may also require a letter of authorization.
4. Your gift will be valued the day that your stock is received in The Cleveland Orchestra’s Merrill Lynch account.
If the certificates are in your possession, you may either have them retitled in the name of
the Musical Arts Association or send them unendorsed, by registered mail.
1. Send the certificates to:
The Cleveland Orchestra
ATTN: Philanthropy & Advancement
11001 Euclid Avenue
Cleveland, Ohio 44106
2. In a separate envelope to the same address, send a letter of instruction stating that you wish to contribute the securities to the Orchestra, along with a signed, but otherwise blank, stock power form. If you need a letter of instruction or stock power form, Dave Stokley will be happy to send you one. Call 216-231-8006.
3. We will deliver the stock certificate and the stock power form to Merrill Lynch, who will sell the stock and issue a check to The Cleveland Orchestra.
4. Your gift will be valued the day that your stock is received at The Cleveland Orchestra office.
If You Have a Merrill Lynch Account
If you have your own Merrill Lynch account, please call the Orchestra's broker,
Fred Watson, at 216-292-8095, and he will facilitate
the transfer of your stock to the Orchestra.
These instructions are current as of January 2018.