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Gifts of Appreciated Securities
A $5,000 cash gift and a gift of $5,000 in Appreciated Securities both generate the same charitable deduction. But if you use publicly-traded stocks, bonds or mutual fund shares to make your gift, you will receive an additional tax benefit: the IRS allows you to make your transfer to Le Moyne College without recognizing capital gains on the appreciation. You can thus leverage a larger donation than you could make with cash -- and receive a larger tax deduction -- by "buying low and giving high."
Your gift of securities is valued as of the day the securities reach our account if your broker transfers them electronically, or the postmark date if you mail them. Your gift value is the average of the high and the low prices for the securities on that date (for mutual fund shares, it is the net asset value).
Important Tip: Don't sell the stock first. Even though you give us the proceeds as a gift, the IRS will impose capital gains tax on your sale, wiping out the benefits of this arrangement.
You will need the following information to make a gift of appreciated securities:
Electronic Transfers
Firm Name: Smith Barney
Broker Name: Marty Satalin ’77
Phone Number: (315) 448-3313
Account Name: Le Moyne College
Account Number: 6873428012001
DTC: 0418
Please be sure to contact us with your contact information, the name of the stock, the number of shares, your broker’s contact information, and your intentions for the use of the gift.
Securities Certificates
If you possess the certificate(s), send the UNSIGNED certificate(s) via certified mail along with a signed note stating your intentions for the use of the gift and an original signature, to the address listed below.
In a SEPARATE ENVELOPE, mail a signed Irrevocable Stock Power form for each individual certificate to the address listed below. Make sure that the signature block is completed in the exact way that the stock is registered and that all individuals who are listed on the certificate have signed the stock power. Mail both envelopes on the same day. The “date of the gift,” which sets the value of the gift, is determined by the postmark on the last envelope received. If you need an Irrevocable Stock Power form, please contact the development office at (315) 445-4644.
You can send stock directly to:
Attn: Kim Pietro, Director of Major and Planned Giving
Le Moyne College
1419 Salt Springs Rd.
114 Mitchell Hall
Syracuse, NY 13214
Note:
The “date of the gift” which sets the value of the gift, is determined by the date that the stock is transferred to Le Moyne’s DTC account. The College will pay for the College’s broker’s fees and you will be credited with the full value of the gift.
More
To learn more about gifts of appreciated securities, Email us, complete the Information Request form, or call us at (315) 445-4644 so that we can assist you.
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