Many donors prefer to give appreciated securities directly to the Lake Erie Council rather than sell them and donate their proceeds, as this allows for certain tax benefits and can help diversify your assets. If you own securities that have lost value, you can sell the stock, take the capital loss deduction, and make a gift to the Lake Erie Council.

Whether your stocks are held by yourself or are kept with a bank/broker, it is important that you notify the Lake Erie Council in advance of making a gift of securities. This will help to ensure that proper crediting and timely acknowledgement take place.
 

IF THE STOCK CERTIFICATE(S) IS/ARE HELD BY A BANK OR BROKER

Contact the Lake Erie Council's development department at 216.861.6060, or shondell.williams@scouting.org, to report what is being given and receive instructions on how to complete the transfer of shares.
 

IF YOU HOLD THE STOCK CERTIFICATE(S) YOURSELF

Mail it/them (unsigned) and a completed STOCK POWER FORM* in separate envelopes, but on the same day, to:

Lake Erie Council, BSA
2241 Woodland Avenue
Cleveland, Ohio 44115

We recommend that you send the stock certificate(s) by certified mail. Please also include a completed CONTRIBUTION FORM, or a note indicating where to direct the gift, in one of the envelopes.

* If the stock is registered in more than one name, each person must sign the stock power form. Stock power forms are available at most banks. You must use a separate stock power form for each individual stock.
 

CLOSELY HELD STOCK

Don’t believe the conventional wisdom: you can make a charitable gift of closely held shares of stock in your own company, and receive the same tax benefits as if those shares had been publicly traded.

You must secure a qualified appraisal of stock in order to receive this deduction. The Lake Erie Council can sell the shares back to the company, either for a lump sum or a promissory note, on the condition that there has been no prearrangement with the company.

 


If you have any other questions, please contact the Lake Erie Council's development department here:

Lake Erie Council, BSA
2241 Woodland Avenue
Cleveland, Ohio 44115

Shodell Williams
Development Associate
Phone: 216.861.6060
Email: shondell.williams@scouting.org