© The Citadel
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Securities, like stocks, bonds, and mutual funds, often provide greater tax benefit to the donor than a gift of cash.
A gift of appreciated securities offers the donor two significant advantages:
1. You avoid paying capital gains on the increased value of the stock
2. You receive a charitable deduction for the full fair market value of the stock when the gift is made. In order to do this, your stock generally must have been held long-term (more than one year). Gifts of appreciated securities are fully deductible up to a maximum of 30% of your adjusted gross income. Anything more can usually be carried forward and deducted over a maximum of five subsequent years.
Securities that have decreased in market value from the time of purchase may also be used to make a gift to The Citadel Foundation. If the securities are sold and the college receives the proceeds, the donor may deduct both the contribution and the loss.
Gifts of securities are valued at the market value on the date they are transferred to the Foundation's account. For publicly traded securities, market value is computed as the average of the high and low market prices on the date of transfer.
Stock Transfer Procedures
Thank you for considering a gift of stock to The Citadel Foundation. We truly appreciate your generous support, which better equips The Citadel to achieve excellence in the education of principled leaders.
The Citadel Foundation uses a local branch of Wachovia Securities to handle all transfers of stock gifts. Our contact at Wachovia is Will Murphy. Please share this information with your broker.
Stock Transfer Procedures
- The transfer is a “free delivery of shares.”
- The account number for gifts designated for The Citadel Foundation is:
1380-0010. - The DTC number for Wachovia is 0141.
- Please include name and phone number of the donor when making the transfer.
- If your broker has any questions, please have him or her contact Will Murphy at 800-280-1550 or 843-727-1057.
Important: Please notify Blythe Manuel, Gift Processing Coordinator, by telephone at (843) 953-6999, toll-free at (800) 233-1842, or by e-mail to blythe.manuel@citadel.edu once you have ordered the stock transfer. When properly notified, we will be able to monitor the account to make sure the transfer is completed correctly, in a timely manner, and designated in accordance with your wishes.
