The American Red Cross and Muriel F. Siebert, Chairman and President of Siebert Financial Corp. (NASDAQ: SIEB), parent of the stock brokerage firm, Muriel Siebert & Co., Inc., announced that they have expanded their joint program, which eliminates commission charges on sales of stock donated to the Red Cross, to the victims of the Japan earthquake and tsunami. “The Red Cross is extremely grateful to longtime supporter Siebert Financial and Ms. Siebert for offering this commission-free program for donated securities,” said Neal Litvack, Red Cross Chief Development Officer. “Transferring securities to the Red Cross is easy, offers tax benefits to the donor and, most importantly, allows the Red Cross to respond to a house fire down the street, floods or tornadoes across the country, and major disasters in Japan and other countries around the world.” The announcement represents an expansion of the seven-year-old Siebert Charitable Stock Donation Program launched with the American Red Cross and other charities to help Florida hurricane victims and later extended to other disasters. To date, Siebert has sold more than $16,500,000 in stock donated to the Red Cross at no cost to the charity. “The American Red Cross is a great institution and we want to do what we can to help those who have been affected by this terrible disaster,” Ms. Siebert said. “We know this program will increase the value of charitable contributions to those in need.” As an example of Siebert’s program, if a contribution to the Red Cross involves 200 shares of stock trading at $20 per share, the value of the contribution could be increased by more than $120 by eliminating commissions that would typically be charged by a full-commission broker, Siebert said. “By eliminating the commission, we help increase the contribution to the Red Cross that is helping victims in Japan,” she added.
Investors who wish to donate stock are not required to have Siebert accounts and can contact Siebert at 800-872-0711 or any of the Siebert offices listed below from 9:00 a.m. – 5:00 p.m. ET, Monday – Friday or visit www.siebertnet.com/stockdonation to learn more and donate to the Red Cross.
|The addresses and phone numbers of the firm’s offices are:|
|New York885 Third Ave.,17th FloorNew York, NY10022877-327-8379||Boca Raton4400 N. Federal Hwy.Suite 152Boca Raton, FL 33431800-SAVE-FLA||Naples400 Fifth Ave. S.Suite 100Naples, FL34102800-293-3891||West Palm Beach1217 South FlaglerDriveWest Palm Beach,FL 33401800-909-4503|
|Surfside 9569 Harding Ave.Surfside FL 33154800-773-2980||Jersey City111 Town Square Place,Suite 310Jersey City, NJ 07310800-559-9193||Beverly Hills 9701 Wilshire Blvd.Suite 1111Beverly Hills, CA 90212800-995-7880|
Siebert does not provide legal or tax advice. Investors should consult their tax advisors regarding potential tax implications of donations or sales of securities. Siebert and the American Red Cross are not affiliated companies.