Gifts of publicly traded stocks, bonds, and mutual funds are welcome. Upon receipt of these gifts the stocks, bonds or mutual funds are immediately sold. For stocks and bonds the gift is recorded at the average market value on the day of transfer (high + low for day divided by two). For mutual funds the value is the fund’s closing price on the day the shares are received into our account. Any difference between the value and the proceeds received for the sale is recorded as an investment gain/loss.
When a gift of stock, bonds, or mutual funds is intended, the donor, or development officer on behalf of the donor, should complete the Give a Gift of Stock form with the following information:
- Donor name
- Name/Ticker Symbol of the stock/bond/mutual fund and # or approximate # of shares or dollar amount to be gifted
- Name of the brokerage firm that will transfer the stock/bond/mutual fund
- Expected date of transfer (if known)
- Account number to which the gift is to be applied
- Method of transfer (DTC or Sending Certificates)
Stocks and bonds are transferred through one of these procedures:
- DTC transfer, OR
- Sending the Certificate along with a completed Stock/Bond Power Form