Stock gifts of appreciated stock can yield tax benefits, because they are deductible from your income tax at their fair market value. This kind of gift avoids capital gains tax that would otherwise result from selling the stock and then using the cash to make your gift to the College. Gifts of appreciated assets are deductible in amounts up to 30% of adjusted gross income, and any excess deductions may be carried over for use in the future.
Our broker’s contact name and number is:
Morgan Stanley Wealth Management
456 West Foothill Boulevard
Claremont, California 91711
DTC #0015, Account # 527‐110917‐054
Stock may be donated in one of the following ways:
- By electronic transfer (DTC) of the shares between your broker and Scripps’ broker, Morgan Stanley Wealth Management. Please call our Advancement Services at (909) 607-1543 to notify Scripps of your plans to make a gift of stock. We will need your broker’s name and telephone number as well as the name of the stock and the number of shares you wish to transfer. Please also inform your broker of your intent to make a gift of stock. This information will ensure the details of the transaction are completed accurately and efficiently. Stock transferred in this fashion is valued on the date of the transfer—the date it moves into the Scripps account.
- By sending stock certificates and a stock power to Scripps College in separate envelopes. This method will transfer the stock to our broker for sale. For stock certificates registered in your name, a signed stock power which allows the stock to be sold by a Scripps’ stock broker is required. Your signature should be medallion guaranteed. Leave the rest of the certificate blank, including the name of the transferee.
With either method, we strongly recommend that you send a brief letter from you addressed to your broker, (but send a copy to Scripps College), indicating that a gift is being made to Scripps College and the purpose for which it was intended. The signature on the letter must match the name on the stock certificate. The letter should state the following:
I hereby gift the following stock to Scripps College, 1030 Columbia Avenue, Claremont, California, 91711, a California nonprofit organization. Accordingly, the College is now the owner of these shares and may sell them at its discretion.
- Number of shares
- Company Name
- Donor’s name and signature
If the stock certificates are mailed, the value of the gift for the donor’s tax purposes is calculated using the date of the postmark on the envelope.
For questions regarding making a gift of stock, contact us at [email protected] or (909) 607-1543.