Stocks, Bonds, Mutual Funds

1. Telephone or e-mail Brandi Correia (bwhittemore@middlebury.edu), 802-443-5903, and she will expedite transfers with you and your broker or banker.
2. The effective date of your gift will be the date the stock of mutual fund shares arrive in Middlebury’s account, and the value of your gift will be the average of the high and low quotations for that day (in the case of stock) or the value at the end of that day (for mutual fund shares).
3. Stock transfers normally are completed in two to three business days, depending upon your broker. Mutual fund transfers often take three to four weeks, especially at year-end, due to additional paperwork required to complete the transfer.

1. By certified mail, return receipt requested, send unendorsed certificate to Brandi Correia, Treasury Analyst, 152 Maple Street, Marbleworks, Middlebury College, Middlebury, VT 05753.
2. In a separate first class envelope, send to the same address a stock power form for each certificate, signed exactly as your name appears on the security but otherwise left completely blank.
3. Include a signed letter of instruction specifying the number of shares being transferred and the gift designation. For example, “100 shares of XYC Corporation to the Middlebury College Annual Fund.” If your gift is to be for less than the total number of shares listed on the certificate, include your social security so a new certificate with the remaining shares can be issued.
4. The value of your gift will be the average of the high and low quotations using the later of the postmarked date from the stock certificate of the stock power form.

1. Greater tax benefits than equivalent cash gift
2. Income tax charitable deduction if you itemize deductions
3. Avoidance of capital gains tax on the appreciated securities or mutual fund shares donated
4. Avoidance of broker’s sales commission

For more information about making gifts of securities or mutual funds, please contact us.

The College takes the average of the high and low prices for the stock on the date it is received by the College. If the high price was $50 and the low was $40 on the day you made your gift, your gift will be valued at $45 per share.

If the stock you donate is held by your broker, the effective date of your gift will be the date the stock or mutual fund shares arrive in Middlebury’s account. If you hold the certificates yourself and mail them to us using the US Postal Service, the gift date is the postmark date on the envelope.  If using overnight mail, the date of gift is the date it is received by the College.

Donors of mutual fund shares use the fund’s closing price on the day the shares are received into our account.

1. Inform your broker in writing that you wish to give appreciated securities to Middlebury College. Be sure to let the broker know when you’d like the transfer made.
2. Telephone or e-mail Brandi Correia (bwhittemore@middlebury.edu), 802-443-5903, and she will expedite transfers with you and your broker or banker.
3. The effective date of your gift will be the date the stock or mutual fund shares arrive in Middlebury’s account, and the value of your gift will be the average of the high and low price quotations for that day (in the case of stock) or the value at the end of that day (for mutual fund shares).
4. Stock transfers normally are completed in two to three business days, depending upon your broker. Mutual fund transfers often take three to four weeks, especially at year-end, due to additional paperwork required to complete the transfer.

You can receive income for life and all the benefits of donating appreciated securities by using the securities to fund a life-income gift, such as a charitable gift annuity. You’ll pay no upfront capital gains tax on the transfer and will receive lifetime payments from your gift plan that equal or surpass the dividends the securities are paying now.

The first step is to consult your financial adviser. Then let Middlebury know that you plan to make the gift by completing our stock transfer information form.

There are different protocols for giving securities, depending on whether you hold the stock certificates or your broker does. Please review the FAQ that relates to your particular situation.

For transfer questions, please contact Brandi Correia, Treasury Analyst, 802-443-5903.

For questions about your gift, please contact Brenda Currier, Director of Gift Administration & Reporting, at 802-443-5922.

How do I know if a gift of securities is right for me?

• You’re holding stocks, bonds, or mutual fund shares that have risen in value.
• You want to maximize your deduction but not incur capital gains tax.
• You want to make either an outright gift to the College or a gift that will return lifetime payments to you. 

This kind of gift would not be right for you if your stock has declined in value. In that case, the fair market deduction rule would work against you, since your deduction would be limited to the current value. For example, if you bought stock for $20,000 and it is now worth $10,000, your charitable deduction would be limited to $10,000. Nor will the IRS allow you to take a capital loss by transferring the stock to the College.