Development Department
Securities Transfers
Gifts of Stock
Stocks and publicly traded securities are easy to give and offer great tax advantages. You can transfer the stock to us electronically through your broker or mail to us the stock certificate and a signed stock power for each certificate. To protect against possible fraud, the certificates and the stock powers should be mailed separately.
The best stocks to use for charitable giving are those that have increased greatly in value, particularly those producing a low yield. Even if it is stock you wish to keep in your portfolio, by giving us the stock and using cash to buy the same stock through your broker, you will have received the same income tax deduction but will have a new, higher basis in the stock.
Appreciated Securities: Property that has risen in value and that you have held for more than one year should be transferred directly to the University. You pay no capital gains on this transaction and you can deduct the full fair market value, which is calculated using the average of the high and the low share price on the date of the gift.
Depreciated Securities: If you have stock losses, you should sell the stock yourself to realize the loss and take the deduction for tax purposes. Then you can generate a charitable contribution by donating the cash proceeds of the sale to the University.
Instructions for Transfer
of Stock
NOTE:
If you would like to transfer securities that are NOT DTC eligible or wire
transfer cash, please call Andrea Mulrine at 570.941.4155 for information.
Option 1 – Stock wired to The
University of Scranton Account through your broker
(easiest and least amount of paperwork for the donor and the University) |
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The University of Scranton’s Account is as
follows:
DTC #2616 / PNC BANK
For Credit to Account of: Custodian University of Scranton Endowment
Clearing Account
PNC ACCT # 21-60-001-0379881 |
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Important: Please send an email to
andrea.mulrine@scranton.edu or call (570) 941-4155 to inform The
University of Scranton that you’re wiring stock or securities. It’s very
helpful to us if you include all of the following:
- Name, address, phone number or email
address
- Gift Designation (e.g. Unrestricted
Royal Fund)
- Number of shares of stock
- Name of the stock (i.e. company)
- Name of brokerage firm and stock
broker making the donor transfer
- Date of Transaction
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Option 2 – Stock Certificate Owner
Change |
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1. Have your broker change the name on the
front of the certificate to The University of Scranton
2. Mail stock or securities to:
The University of Scranton
Director of Development Operations
O’Hara Hall 527
800 Linden St.
Scranton, PA 18510
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Option 3 – Stock Certificate Transfer: |
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1. Sign and date back of stock certificate(s)
2. Complete an Irrevocable Stock or Bond Power Form for every different
CUSIP Number and have your signature Medallion Guaranteed (http://www.sec.gov/answers/sigguar.htm)
3. Mail signed Certificates in one envelope and Stock Power Forms in a
second envelope to:
The University of Scranton
Director of Development Operations
O’Hara Hall 527
800 Linden St.
Scranton, PA 18510
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