Gifts of Securities & Mutual Fund Shares
Many alumni and friends find that appreciated stock provides an excellent vehicle for making their charitable gifts to Muskingum.
Making a gift of stock can be nearly as advantageous to the donor as to the university, especially in the case of securities that have been held for a year or more and that have increased in value. In such instances, the appreciated securities are deductible for their full fair market value at the time of the gift, and no tax on the capital gain is imposed on either the donor or Muskingum. For that reason, it is far more advisable to contribute the securities rather than to sell them and donate the proceeds. But if the current value of the securities is lower than the cost, then it is better to sell them yourself and donate the proceeds, taking advantage of the capital loss deduction.
The preferred procedure for transferring stock to Muskingum is:
- If the stock you plan to give the university is held in your account with a brokerage firm, electronic transfer is the preferred method because your gift will be valued on the day it appears in Muskingum's account, which usually is the day you authorize the transfer. The toll-free number of the New Concord office of Edward Jones is 1-877-740-7679; Muskingum's account number with Edward Jones is 696-15087-1-7. The "DTC" transfer number is 0057. Please ask your broker to contact Teresa Cowden at Edward Jones.
If you have questions, please call our toll-free number, 1-866-687-5431.