If your investments in the financial markets have been successful, you can use these assets without losing a substantial portion of your earnings to the capital gains tax by making your gift with appreciated stock. Also, a gift of stock held more than one year may qualify for a charitable income tax deduction equal to the securities' full fair-market value. It is also possible to make a gift with appreciated securities in a mutual fund. See How to Give Stocks or Mutual Funds.
Giving stock through electronic transfer is the easiest method when a donor maintains holdings in a brokered account. Depository Trust Company, or DTC, is the clearinghouse for electronic security transfers. Each brokerage firm has a specific DTC number. When you wish to make a gift of stock, provide the following information to the transferring broker.
Acct Name: Trustees of Bethany College
FBO NFS Acct: # WHQ-017566
Clearing Broker: Hazlett, Burt & Watson
Reference: [Donor's Name]
Please alert Office of Institutional Advancement at Bethany College, before the transfer so that the College can make arrangements with its broker to receive the stock. The College cannot retain an unidentified security. At the same time, please indicate the purpose of the contribution, such as an annual gift to a school, a pledge payment, or funds for a planned gift.
If you send a stock certificate that is in your name, a letter of intent must be included. Under separate cover, please send a signed stock power. The College does not recommend sending signed certificates. Stock powers are available from the Office of Institutional Advancement or from any broker. On the stock power, your signature is the only item that is needed. If the certificate is in the College's name, no stock power is needed. The process for re-registering stock certificates (transferring the certificate into the College's name) can take from two to four weeks. Stock certificates should be sent to:
If sent by U.S. Postal Service:
Office of Institutional Advancement
Erickson Alumni Center Bethany College
Bethany, WV 26032
If the certificates have been re-registered to Bethany College, a letter should be included identifying the donor and the purpose of the gift.