Securities & Mutual Funds
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 Zanesville office of Merrill Lynch is 1-877-814-6255; Muskingum's account number with Merrill Lynch is 69804037. The "DTC" transfer number is 8862. It is important that we are notified prior to every stock transfer, in order for us to accurately identify, allocate, and acknowledge your gift. For more information, please contact Megan Mortimer or Ryan Moyer at Merrill Lynch, 1-877-814-6255.
If you have questions, please call our toll-free number, 1-866-687-5431, or email firstname.lastname@example.org.