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Gifts of Stock or Appreciated Securities

Giving shares of appreciated stock, bonds, mutual funds, and other securities is an especially tax-wise way to make a gift to LC. If you have held securities for more than one year that have increased in value since acquisition, you will receive a charitable tax deduction equal to the current value. This allows you to avoid paying capital gains tax you would owe on the gain in value if you sold the securities. Gifts of securities are deductible for federal tax purposes up to a limit of 30 percent of your adjusted gross income.

How to Make a Gift of Stock

To give stock that is held by your broker or commercial banker:
  1. By contacting Lynchburg College first, we will ensure that your gift is handled to
    your specification and you receive proper credit and acknowledgement for it.

    Please notify the College of your stock transfer by any of the following options:
    • Fax a copy of your instructions to your broker (letter example follows) to:
      Lynchburg College
      434/544-8596,
      attn: Gene Frantz
    • Mail a copy of the instructions you gave your broker (example follows) by mail, addressed to:
      Gene Frantz, vice president for planned giving, or
      Denise McDonald, vice president for advancement
      Lynchburg College
      1501 Lakeside Drive
      Lynchburg, VA 24501
    • E-MAIL a copy of the instructions to your broker (example follows) addressed to Gene Frantz at frantz@lynchburg.edu or mcdonald@lynchburg.edu
    • Telephone Gene Frantz at 800/621-1669 or 434/544-8294 to advise the College of your intentions.
  2. Notify your broker or commercial banker that you are giving securities to Lynchburg College.
  3. The stock should be transferred into any one of the College's accounts listed below:

    Lynchburg College's Tax ID number: 54-0505-922

    Bank of America/Merrill Lynch, Attn: John Hoskins 888/381-9528
    DTC: 5198 Account number: 6RA02015

    Davenport & Company, LLC 800/306-2084
    DTC number: 0715 Account number: 5435-7751

    Morgan Stanley Smith Barney
    Account number: 41J-04410-14

    Scott & Stringfellow, Inc. 804/643-1811
    DTC number: 0702 Account number: 54367051

 

    Sample stock transfer authorization letter

    Date__________________

    Name of Broker/Bank_______________________________________
    Address__________________________________________________

    To Whom It May Concern:

    This letter will serve as official authorization to transfer ________ shares of ___________________ stock from my account number ___________________ to (Broker's name and address), account number_______________ for credit to Lynchburg College. For any additional information, you may call Gene Frantz at 434/544-8294. I would appreciate a confirmation from you of the mean value of the stock gift on __________ (date stock was transferred), which you may send to my attention at _____________________________________________ (your address) or fax to ________________ (your fax number). Please send a copy of the confirmation to Lynchburg College, attn: Development Office, 1501 Lakeside Drive, Lynchburg, VA 24501.

    Sincerely,


    cc: Gene Frantz, Vice President for Planned Giving, Lynchburg College;
    Denise McDonald, Vice President for Development and External Affairs, Lynchburg College

     

    For additional informationabout giving securities, please contact Denise McDonald, vice president for advancement, or Gene Frantz, vice president for planned giving, at mcdonald@lynchburg.edu or frantz@lynchburg.edu or by phone 434/544-8294.