When donating stock to a foundation, what must the donor provide if the stock is held in street name?

When a donor wishes to donate stock that is held in street name, it is necessary for them to provide written instructions to transfer the title. Stock held in street name refers to shares that are held in the name of a brokerage firm or bank rather than the actual owner's name. This process allows for easier transfer of ownership but requires specific steps to change the title from the brokerage to the charitable foundation.

Written instructions are essential because they provide a clear and documented request that the brokerage firm needs to process the transfer. This written documentation helps ensure that the transaction is accurately executed and that there are no misunderstandings between the donor, the brokerage, and the foundation receiving the donation.

In contrast, verbal agreements lack the formal documentation needed for such transactions and may not be honored by financial institutions. A signed contract, while useful, is not typically required for stock transfers – written instructions are sufficient. Similarly, without physical stock certificates in the case of street name stock, the original certificates would not be relevant or necessary for the donation process.