Gifts of Stock and Other Securities
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Document Number: ADV--104d
Revision #: 2.0
Document Owner: University Provost
Date Last Updated: 12/11/2017
Primary Author: VP for Advancement
Status: Approved
Date Originally Created: 02/13/2012
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List:
1. Gifts of Stock
Gifts of appreciated securities and mutual funds can be extremely beneficial -- to both you and to Cumberland University.
Gifts of marketable stocks or mutual fund shares that have appreciated (increased in value) can have an immediate impact on your favorite Cumberland University program -- and also create an immediate income tax deduction for you based on the assets' current value. And because there is no capital gains tax when you make the gift, you save on taxes twice.
2. Instructions for Giving Appreciated Securities with Stock Certificates Held by a Bank or Broker
Giving stock through electronic transfer is the easiest method when a donor maintains holdings in a brokered account. Depository Trust Company, or DTC, is the clearinghouse for electronic security transfers. Cumberland University’s DTC number is 0141.
It is important that you notify the Office of Advancement in advance of making a gift of securities. Without such notice, gifts of stocks may be transferred to Cumberland University with the identity of the donor unknown, making proper credit and timely acknowledgement extremely difficult.
3. Instructions for Giving Appreciated Securities if You Hold the Stock Certificates Yourself
If you hold the stock certificate(s) yourself, mail the certificate(s) and a completed stock power form, in separate envelopes but on the same day, to:
Cumberland University
One Cumberland Square
Lebanon, TN 37087
(615) 547-1239
We suggest you send the stock certificate(s) by certified mail. Please include your completed contribution form or a note indicating the designation of the gift in one of the envelopes. If you send a stock certificate that is in your name, a letter of authorization must be included.
If the stock is registered in more than one name, each person must sign the stock power form. Sign only your names as they appear on the stock certificate(s). Cumberland University will complete all of the other information and will guarantee the signature when the stock certificate is being sent for transfer. If you are giving more than one type of stock, send a stock power form for each stock.
Stock power forms are available at most banks. If you would like to have one mailed or faxed to you, contact
Subject Experts
The following may be consulted for additional information.
VP for Advancement
Regulations
University governance