NEW YORK--(BUSINESS WIRE)--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: | |||||||||
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New York |
Boca Raton 4400 N. Federal Hwy. Suite 152 Boca Raton, FL 33431 800-SAVE-FLA |
Naples |
West Palm Beach |
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Surfside
9569 Harding Ave. |
Jersey City |
Beverly Hills
9701 Wilshire Blvd. |
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About American Red Cross
The American Red Cross shelters, feeds and provides emotional support to victims of disasters; supplies nearly half of the nation's blood; teaches lifesaving skills; provides international humanitarian aid; and supports military members and their families. The Red Cross is a charitable organization — not a government agency — and depends on volunteers and the generosity of the American public to perform its mission. For more information, please visit www.redcross.org or join our blog at http://blog.redcross.org.
About Muriel Siebert & Co., Inc. and Siebert Financial Corp.
Siebert Financial Corp. is a holding company that conducts all its operations through its wholly owned subsidiary, Muriel Siebert & Co., Inc. (“Siebert”), a member of the New York Stock Exchange. Municipal investment banking activities are conducted by Siebert, Brandford, Shank, & Co., LLC, (www.sbsco.com) a separate affiliate of Siebert specializing in municipal and other fixed income underwriting and financial advisory business.
Siebert is based in New York City with additional retail branches in Boca Raton, Surfside, West Palm Beach and Naples, FL; Beverly Hills, CA and Jersey City, N.J.
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.