Gifts of Securities
Giving That Makes Sense
Contributing your gift to Saint Joseph College in the form of securities can make good sense if these securities have appreciated in value and if you have held them for at least a year and a day. These gifts, if handled correctly, may generate a favorable tax benefit to the donor. In most cases, donors are advised to transfer the actual security, versus selling the asset and sending cash, in order to maximize any potential tax benefit and to avoid the potential of unnecessary capital gains taxes.
Giving Procedure
Please contact:
Douglas Nelson, Vice President for Institutional Advancement
Office of Institutional Advancement
Saint Joseph College
1678 Asylum Avenue
West Hartford, CT 06117
Phone: 860.231.5397
Fax: 860.231.6774
E-mail: dnelson@sjc.edu
*Do not have your broker sell your securities before giving them to the College or you will have to pay a capital gains tax.
Acknowledgment Procedure
The value of a gift of stock is the average of the high and the low on the date of the gift. The date of the gift is recorded as the date the securities are received by the College or, for mailed gifts, the postmark shown on the envelope. The College provides a gift receipt indicating the number of shares received, name of stock, and date of transaction. The donor receives credit for a gift based upon the value of the gift of stock on the date of transfer to the College, not the amount realized by the sale of this stock after the gift has been made. The amount of this gift credit is mentioned in an acknowledgment letter, but donors are urged to check with their tax advisors regarding the amount of the gift for tax purposes.
