Gift Of Securities

Giving That Makes Sense

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.

Giving Procedure

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:

  1. Contact the Office of Institutional Advancement, at 860.231.5397 to notify the University of your intention to transfer your gift of securities. During the holidays, this number is checked frequently. A staff member will return your call promptly and provide transfer instructions and the University's account information. Please be prepared to provide the number of shares, description of shares, and symbol or CUSIP number.If your broker has questions, they can contact the Fidelity office where we have our account:

    Fidelity Investments
    29 South Main Street
    West Hartford, CT 06107
    Phone 860.521.2077

  2. For shares being transferred from a Fidelity account:
    The instructions are the same except they don't have to give the Fidelity DTC number.Some mutual funds' shares cannot be transferred to the University's account at Fidelity Investments. If this is the case please contact the Office of Institutional Advancement at 860.231.5397 so we can make appropriate arrangements for transfer of the shares.You may mail to us unendorsed stock certificates, with a signed stock power for each certificate mailed separately; or you may deliver to us by hand your unendorsed stock certificate with signed stock power.Please complete the stock power by filling in the number of shares donated, the name of the stock, and the certificate number. Sign the stock power as your name(s) appears on the certificate and have your signature guaranteed by your broker or by a commercial bank or trust company. Stock power forms are available from your broker or bank. Note: Guaranteed does not mean notarized.

Acknowledgement 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.

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