Gifts to the University of Saint Joseph that are made with the transfer of appreciated long-term securities (held for more than a year) can make good sense for a donor.
These gifts, if handled correctly, may generate a favorable tax benefit to the donor. In most cases, donors are advised to transfer the actual security, versus selling the asset and sending cash, in order to maximize any potential tax benefit and to avoid the potential of unnecessary capital gains taxes.
Do not have your broker sell your securities before giving them to the University, or you will have to pay a capital gains tax. Follow this procedure:
The value of a gift of stock is the average of the high and the low on the date of the gift. The date of the gift is recorded as the date the securities are received by the University or, for mailed gifts, the postmark shown on the envelope.
The University provides a gift receipt indicating the number of shares received, name of stock, and date of transaction.
The donor receives credit for a gift based upon the value of the gift of stock on the date of transfer to the University, not the amount realized by the sale of this stock after the gift has been made. The amount of this gift credit is mentioned in an acknowledgment letter, but donors are urged to check with their tax advisors regarding the amount of the gift for tax purposes.
The University of Saint Joseph, including the Gengras Center School and the School for Young Children, is accredited by the New England Association of Schools and Colleges, Inc. and the State of Connecticut Board of Higher Education. The University of Saint Joseph prohibits discrimination against any persons on account of their race, color, religious creed, age, sex, gender identity or expression, sexual orientation, transgender status, marital status, national origin, ancestry, disability (including, but not limited to, intellectual disability, present or past history of mental disorder, learning disability, or physical disability), genetic information, homelessness, prior conviction of a crime, or any other characteristic protected by law, in the administration of its educational policies, admissions policies, scholarship and loan programs, and employment practices (unless there is a bona fide occupational qualification related to employment).
Inquiries concerning the University’s non-discrimination policies may be referred to Deborah Spencer, Human Resources director /Title IX coordinator, telephone 860.231.5390 or email titleIX@usj.edu, or to the U.S. Department of Education, Office for Civil Rights, 8th Floor, Five Post Office Square, Boston MA 02109, telephone 617.289.0111, TDD 800.877.8339, fax 617.289.0150, or email email@example.com. More information.