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:- 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 fax copy of your instructions to your broker (letter example follows) to Lynchburg College at 434/544-8596, attn: Gene Frantz.
- MAIL – a copy of the instructions you gave your broker (letter example follows) by mail, addressed to:
Gene Frantz, vice president for Planned Giving
Lynchburg College
1501 Lakeside Drive
Lynchburg, VA 24501 - E-MAIL – a copy of the instructions to your broker (letter example follows) addressed to Gene Frantz at frantz@lynchburg.edu.
- TELEPHONE – call 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 the College's account:
Lynchburg College's Tax ID number: 54-0505-922
Merrill Lynch, Attn: Mr. David Capps 888/381-9528
DTC: 0161 Account number: 6RA02015
Davenport & Company, LLC 800/306-2084
DTC number: 0715 Account number: 5435-7751
Scott & Stringfellow, Inc. 804/643-1811
DTC number: 0702 Account number: 54366348
Smith Barney 800/368-2225
DTC number: 0418 Account number: 41J-02854-11
UBS Financial Services, Inc. 800/776-2723
DTC: 0221 Account number: PP 04803 49
Wachovia Securities 800/777-1061
DTC: 141 Account number: 5216-7550
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