Giving Appreciated Stock to Support
Thank you for your interest in making a gift of appreciated stock to support Gannon University. Giving securities is an easy and tax-wise way to show your support of Gannon.
As the owner of stocks or bonds that have appreciated in value, selling these assets incurs capital gains taxes. Donating these securities is a cost effective way to make a charitable gift.
Benefits of Giving Appreciated Stock:
· A charitable tax deduction equal to the full fair market value of the securities at the time of your gift
· Avoidance of the capital gains tax on the increased value
· Reduction of the cost of making a gift, when a long or mid-term appreciated stock gift is made
· Donating securities is easy
INSTRUCTIONS FOR USING OUR BROKER
You may transfer your stock electronically as follows to the Gannon University broker, Michael Keim, RBC Wealth Management, Suite 101, 300 State St. Erie, PA 16507, Phone (814) 836-7840.
A. First, to insure that your stock gift is promptly recorded and acknowledged with a receipt for your tax purposes, please notify Jana Hunt, Coordinator of Gifts and Records that you will be transferring a stock gift to the University. Also please tell Jana if you wish to restrict your gift to a specific purpose. Her telephone number is (814) 871-7469. Her e-mail address is firstname.lastname@example.org. To complete the transaction to Gannon University, she will need to know:
a. Donor’s name
b. Name of stock and number of shares
c. Date of transfer
d. Any restrictions on the gift, if applicable (i.e., specific purpose)
B. Then instruct your broker to transfer your stock using DTC# 0235 to the appropriate Gannon University account number 304-13370. Gannon’s Tax Identification Number is 25-0496976.
If you need more information in general, contact James Kelvington, Director of Planned Giving at (814) 871-5368 or email@example.com.
For a stock transfer form, please click here.