Transfer Instructions for Gifts of Appreciated Marketable Securities (Stocks or Bonds)
There are two significant benefits to giving appreciated marketable securities: First, such gifts create an income tax charitable deduction equal to the current fair market value of the securities being given. Second, such gifts normally allow the donor to avoid the capital gains tax otherwise payable on the appreciation in the value of the securities being given.
If the Stock or Bond Is Held or Registered in the Donor’s Name
Mail the unsigned certificate(s) by registered or certified mail, along with a cover letter identifying the certificate(s) and any designated purpose for the gift.
In a separate envelope, mail a stock or bond power that has been properly signed and guaranteed, with signatures exactly as name(s) appear on certificate(s), again, by registered or certified mail.
The gift is complete on the postmark date.
If the Stock or Bond Is Held in Street Name by a Broker
Instruct the broker in writing, copying the College, to transfer the stock or bond to the Eckerd account at the brokerage listed below.
The gift is complete and valuation determined on the date the transfer is made on the brokerage house records.
Donors making gifts at the end of the calendar year should personally contact their broker to confirm that the transfer will be completed on or before December 31.
Brokerage Account Information for Gifts of Securities
Charles Schwab & Co., Inc.
DTC Clearing #0164, Code 40
To Account Name: Eckerd College Trading
Account # 3054-7513
Eckerd College Tax ID # 59-0859121
When you transfer securities, please notify firstname.lastname@example.org.