Stocks/Securities
Gifts of Marketable Securities (Stocks)
Charitable gifts of securities are especially
beneficial for many people due to important
incentives present in our tax system. Many
securities may be worth much more then what you paid
for them. As appreciated property, they can be very
attractive charitable gifts.
Publicly traded securities are usually the simplest
to give, due to the ease of transferring them and
determining their value for deduction purposes.
Closely held stocks may also be given, but special
rules apply. More information is available on this
option.
Many people have discovered that transferring
marketable securities is an easy way to make a
charitable gift to the LCSC Foundation. Please
notify the College Advancement Office at (208)
792-2458 of your intended gift.
If Your Stock is Held at a Brokerage
If your stock is held at a brokerage, the easiest
way to transfer securities to the LCSC Foundation is
by electronic transfer. Please follow these steps:
1. Notify your broker that you wish to make a gift
of securities to the LCSC Foundation. Your broker
will need written authorization from you before the
transfer can be made. Your broker will need to know
the name of the stock you want to transfer and the
number of shares.
2. Either you or your broker should contact the
College Advancement Office at (208) 792-2458 for
complete transfer instructions and to let us know
the designation for your gift.
The College Advancement Office will issue a LCSC
Foundation gift receipt for tax purposes. The market
value of your gift will be calculated by averaging
the high and low values of the stock on the date of
the gift. The date of gift is the date the
securities are credited to our brokerage account.
NOTE: Even if you have donated securities in the
past, be sure to contact us before the transfer is
made. Transfer instructions may change from year to
year.
If Your Stock is in Certificate Form
Following are the steps you should follow to
transfer securities that are in certificate form:
1. DO NOT sign the back of the certificate(s).
Instead of signing the back of the certificate(s),
sign a stock power form (one for each certificate).
The stock power(s) must be signed exactly as the
certificate is registered. If the certificate is
registered in more than one name, all registered
owners must sign.
2. The signature on the stock power must be
"Medallion Signature Guaranteed" by a broker who is
with a member firm of the New York Stock Exchange,
or by an officer of a bank (not a savings and loan).
3. The certificate and letter should be mailed via
certified mail, and the stock power form should be
mailed in a separate envelope, to:
College Advancement Office
Lewis-Clark State College
500 8th Ave.
Lewiston, ID 83501
Along with the stock certificate and stock power,
send a letter stating you are making a gift of
marketable securities. The letter must refer to the
name of the security (corporation), the number of
shares and the certificate number being transferred.
If you know how your gift is to be designated, state
your wishes in the letter.
NOTE: It is strongly recommended that certificates
not be sent to a transfer agent for re-registering
in the Foundation's name. This procedure is
unnecessary and may result in needless delays.
The College Advancement Office will issue a LCSC
Foundation gift receipt for your tax purposes. The
market value of your gift will be calculated by
averaging the high and low values of the stock on
the date of the gift. The date of gift is the date
the securities and stock power were mailed (postmark
date) or the date the securities were hand delivered
to LCSC.
For more information please
call the College Advancement Office at (208)
792-2458 or, e-mail collegeadvancement@lcsc.edu.
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