Gift of Stocks
A stock portfolio is among the most valuable assets you own, and one that can continue to reap considerable appreciation in value. However, there are tax implications. Thus, we recommend that you contact your professional legal or tax advisor about how you can make best use of your stock. One approach you can take is to donate the stock to Gallaudet University. In this way, you will know that you are making a difference that will last for many years to come.
The best stocks to donate are those that have increased greatly in value, particularly those producing a low yield. Even if it is stock you wish to keep in your portfolio, by donating it to Gallaudet and using cash to buy the same stock through your broker, you will have received the same income tax deduction but will have a new, higher basis in the stock.
For further discussion on how you can make a gift of stock, please read the instructions below or feel free to contact:
Dr. Lynne Murray,
Vice President, Development and Alumni Relations
202- 651-5467 (Fax)Lynne.Murray@gallaudet.edu
Stock gift process
- When the stock is held by your broker or commercial banker:
The best and easiest way of making a gift of stock to Gallaudet via your broker or a banker is through electronic transfer. Notify them by letter that you are giving stock to Gallaudet University and send a copy to the Development Office.
In your letter direct your broker or banker to transfer your shares to Gallaudet via Merrill Lynch. Please include the following information in the letter:
- Address of Merrill Lynch representative:
c/o Mr. Stephen Hlibok
10320 Little Patuxent Drive
Columbia, MD 21044
888-207-2386 (TTY & videophone)
(410) 884-6654 (voice)
Contact Person: Juliette Smith
- DTC # 5198
- Gallaudet's account number at Merrill Lynch: 51904170
- Gallaudet University's I.D. for nonprofit sector: 53-0199507
- When the actual stock certificate is in your name and in your possession:
- Do not endorse the certificates
- Return unendorsed certificates by first class or registered mail with a letter of transmittal to:
Development Office - EMG
800 Florida Avenue NE
Washington, DC 20002
Attn: Dr. Lynne Murray, Vice President
- Obtain a stock/bond power from your broker or banker.
- Sign the stock/bond power and have your signature guaranteed by your commercial bankers, but do not fill in anything else. Sign exactly as your name appears on the certificate. If the stock is jointly owned, both owners must sign the power.
- Mail the signed stock/bond power in a separate envelope to the above address, along with a copy of your letter of transmittal.