Thank you for your interest in making a charitable donation to Western Carolina University Foundation in the form of a stock transfer. Gifts of securities are a wonderful way to support the mission of the University.
For stock held in brokerage accounts, your broker can assist you in making a gift of stock via a direct transfer. Giving a gift of publicly traded stock that has increased in value and that you have opened for more than one year may provide better tax benefits than giving cash. Your charitable income tax deduction is equal to the fair market value of the stock and you avoid paying the capital gains on any increase in the current value over the original cost of the stock.
Giving a Gift of Stock
There are three primary methods for making gifts of stock to the Western Carolina University Foundation: transfer through brokerage accounts, delivery of certificates, and reissue of certificates in the name of Western Carolina University Foundation (WCUF).
Instructions for making these gifts are outlined below. For questions or help with your donation, please contact Ms. Jamie Raynor at 828.227.7124 or firstname.lastname@example.org
1. TRANSFER OF GIFTS THROUGH BROKERAGE ACCOUNTS:
A donor may instruct his or her broker to have the stock transferred directly into the Western Carolina University Foundation’s account with Morgan Stanley. The date of the gift is the date the securities are received in WCUF’s account. The account information is below.
|Brokerage: Morgan Stanley
Contact: Paige Brenner
|Account Name: Western Carolina University Foundation
|Account Number: 767-060407-142
|DTC Number: 0015
In order to give the donor appropriate gift credit in a timely manner, the donor or his or her broker must alert the WCU Foundation of the incoming donation. You may alert Ms. Jamie Raynor at 828.227.7124 or email@example.com or Paige Brenner with Morgan Stanely at 704.442.3442 or Paige.Brenner@morganstanley.com
Donors should not give sell instructions to their broker. The tax court has held that the gift is not complete unless the stock is transferred to the charity’s account. Instructions to your broker to sell stock and transfer the proceeds to the charity are not sufficient to complete the gift.
2. DELIVERY OF STOCK CERTIFICATES:
Donors may bring stock certificate(s) to the WCU Foundation office in person. Prior to leaving the certificate(s) at our office, the back of the certificate(s) should be dated and signed by the owner(s) as listed on the front of the certificate(s) and the signature(s) guaranteed by a bank. Some, but not all, brokerage firms will guarantee signatures. This is also known as a medallion signature guarantee. Notary signatures will not suffice for signature guarantees. The donor(s) must sign the certificate(s) in the presence of the bank or brokerage official. The donor(s) must also complete a letter of authorization form (request from WCUF) and provide a copy of their driver’s license. Hand deliveries may be made to: Western Carolina University Foundation 201 HF Robinson Building Cullowhee, NC 28723
Donors may mail stock certificate(s) to the WCU Foundation. The date of the postmark is the date of the gift. Mailed securities must be completed in two parts:
Mail deliveries may be sent to:
Western Carolina University Foundation
ATTN: Jamie Raynor
201 HF Robinson Building
Cullowhee, NC 28723
3. REISSUE OF CERTIFICATE IN NAME OF WESTERN CAROLINA UNIVERSITY FOUNDATION:
A certificate may be submitted to the issuing company or its registrar and a new certificate issued in the name of Western Carolina University Foundation. The date of the new certificate is considered the date of the gift. Please keep in mind this method can be a lengthy process and may not be feasible for last-minute gifts. This method may not be well suited for all gifts of stock. Please discuss this option with CUF before reissuing your stock certificate.