Outright Gifts


Gifts of Cash

Gifts of Stock and Securities
Gifts of Real Estate                                      
Gifts of Other Property

 


 

Gifts of Cash
Outright gifts may be made online using your American Express, Discover, MasterCard or Visa.You may also mail your gift to:

Office of Development
Western Carolina University
201 HFR Administration
Cullowhee, NC, 28723

If you itemize deductions on your federal income tax form, your outright gift is, in most cases, tax deductible. Most donors are entitled to a federal income tax deduction of up to 50% of their adjusted gross income, and may carry-over any excess deductions for up to 5 additional years.

For more information on IRS regulations regarding the deductibility of outright gifts consult your financial advisor or IRS Publication 526.

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Gifts of Stock and Securities
Increasing numbers of alumni, parents, and friends of Western are donating securities to the University. By giving appreciated securities, donors often find that they can make a larger contribution than they could by giving cash.

A gift of securities offers a number of advantages to the donor. The gift is credited for the full market value of the securities, and the donor may deduct this full amount from federal income tax (if it is within 30 percent of adjusted gross income). Moreover, the donor does not pay capital-gains tax on the increased value of the securities.

To make a gift of securities to Western Carolina University, you may:

  • Send the unendorsed stock certificate and, under separate cover, a signed (with medallion signature guarantee gotten from a bank or brokerage firm) stock-power form executed in blank (no named transferee) and a letter of authorization (states number of shares and name of stock and the allocation for proceeds of sale) with a medallion signature guarantee also to: Office of Development, Western Carolina University, 201 HFR Administration, Cullowhee, NC 28723.
  • Instruct a broker to transfer the securities from your account to Western Carolina University's account:

 

Morgan Stanley Smith Barney
DTC Number 0015
Account Number 767-060407

Morgan Stanley Smith Barney Contact Person: Pam Dennis (866) 403-6382

At the same time inform the Office of Development of the transfer, by mail or telephone (828) 227-7124 to insure proper gift crediting.

The value of a gift of securities is established using the mean of the high and low stock quotations on the day the securities pass to Western's control. More information about the date of contribution can be found below. For information on making gifts of closely held stock, life insurance, or other property, contact the Office of Development at (828) 227-7124.

Date of Contribution for Gifts of Securities

If the securities are transferred electronically (via DTC), then the date of contribution is the date on which the securities are received in Western's account. Please note that the gift of securities is not complete until you, and your transfer agent, have delivered the securities to Western’s account. Merely instructing your broker to make the transfer is not enough to satisfy the IRS legal requirement. It has been our experience that, in some cases, brokers move stocks into a temporary account or delay completing the transfer. Be sure to let your broker know when it is essential that the transfer to Western be executed immediately.

For stock certificates mailed or delivered to Western, the date of contribution is the later of: (a) the postmark on the envelope containing the certificate, (b) the postmark on the envelope containing the stock power, (c) the endorsement date on the certificate or stock power, or (d) the date the certificate is hand-delivered to an agent of Western.

If a stock certificate is not sent to Western but registered in our name by the donor and the donor's agent, the date of contribution is the date the stock is transferred on the books of the issuing corporation.
 For more information, reference documents IRS Publication 561.
 
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Gifts of Real Estate

Most real estate has appreciated faster than the rate of inflation and offers great potential in charitable gift planning. We would be happy to explore with you a gift of a home, vacation property, condominium, undeveloped land, or other real estate. For more information, contact the Office of Development at (828) 227- 7124.

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Gifts of Other Property

Gifts of other types of appreciated property can also offer significant tax advantages to the donor while benefiting Western’s programs. Please contact the Office of Development if you are interested in making a gift of personal property, such as art or rare books, or of closely-held stock. While Western is grateful for every donor's charitable intentions, some types of gifts require prior approval and legal forms of acceptance.

The tax laws governing deductions for gifts of appreciated real property can be complex. For more information consult your financial advisor or see IRS Publication 561.

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