AICPA Foundation Asks for Donated Stock


AICPA members and member firms participating in the Institute’s insurance trust life and disability program will learn this month how many shares of stock they’ll receive from Prudential Financial Inc., formerly Prudential Insurance Co. of America, which made an initial public offering December 13 after transforming itself into a public entity from a mutual company. The AICPA Foundation asks that members who receive shares in the IPO consider contributing them to the foundation to support its goals of advancing the science of accountancy, improving accountancy education and enhancing the profession’s recruitment activities.

Prudential’s stock transfer agent, Equiserve, will send each affected member a letter verifying the number of shares in his or her name and providing information on how to hold, sell or transfer them to the foundation. In addition, the foundation will contact all members to ask that they choose the last of these options: a tax-deductible donation of shares. Members who make such contributions can earmark shares for specific purposes or donate them to a general fund.

SPONSORED REPORT

The technology assessment engagement

Are you working with the best technology? Do you know how to help your clients determine if their technology stack measures up? In this free report, J. Carlton Collins, CPA, explains how to answer those questions via a technology assessment engagement.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.