Making a Gift of Stock
Assistant Director of Development Services
Gifts of appreciated stock can yield tax benefits because they are deductible from your income tax at their fair market value. This kind of gift avoids capital gains tax that would otherwise result from selling stock and then using the cash to make your gift to the College.
Stock may be donated in one of the following ways:
By electronic transfer (DTC) of the shares between your broker and Wheelock College's broker, Morgan Stanley Wealth Management.
Please call George Bacher at 617-879-2499 to notify Wheelock of your plans to make a gift of stock. We will need the name of the stock and the number of shares you wish to transfer. Please also inform your broker of your intent to make a gift of stock. This information will ensure the details of the transaction are completed accurately and efficiently. Stock transferred in this fashion is valued on the date of the transfer into the Wheelock account.
By sending stock certificates and a notarized stock power form to Wheelock College in separate envelopes.
For stock certificates registered in your name, a signed stock power which allows the stock to be sold by Wheelock's stockbroker is required. Your signature should be medallion guaranteed. Leave the rest of the certificate blank, including the name of the transferee. Stock certificates registered in Wheelock College's name do not require a stock power form.
With either method, we recommend that you send a brief letter addressed to your broker, and a copy of the letter to Wheelock College, indicating that a gift is being made to Wheelock College and the purpose for which it is intended. The signature on the letter must match the name on the stock certificate. The letter should state the following:
I hereby gift the following stock to Wheelock College.
- Number of shares
- Company name
- Donor's name and signature
If the stock certificates are mailed, the value of the gift for the donor's tax purposes is calculated using the date of the postmark on the envelope.
Our broker's contact information is:
Mr. Thomas Bernazani
Morgan Stanley Wealth Management
28 State Street, 26th Floor
Boston, MA 02109
DTC # 0015 Account # 707-119816-0-026