DTC (Depository Trust Company) transfer is the easiest method when a third party (not the donor) holds the Certificate. Upon receipt of the Give a Gift of Stock form the USM Foundation Business Office will contact the donor with specific information and instructions on using this method.
NOTE: IF A DTC TRANSFER IS INITIATED AND THE USM FOUNDATION HAS NO INFORMATION, THE STOCK/BOND MAY BE RETURNED.
When a DTC transfer of a stock/bond Certificate is received:
- The USM Foundation informs the institution of the $ value of the stock/bond; (The dollar value of the gift is the average of the high and low value of the security on the day the gift is given times the number of shares)
- OIA enters the gift information in Advance for stock gifts to USM Foundation campuses (UMBC, UMUC, UMES, UMB, UMCP)
- The USM Foundation enters the gift information in Advance if the stock gift is to benefit the USM Foundation or UMCES.
- The USM Foundation adjusts the batch posting report to record any gains or losses on the sale of the stock along with any fees associated with the transfer and sale.