Gifts of Stocks and Bonds
Gifts of Securities
Publicly traded securities, shares of stock in closely held companies, bonds and government issues may be given to McMurry University as a way to make an annual gift, support athletics, or establish an endowed fund.
Methods of Valuation of Securities
Publicly traded securities – securities regularly traded on a public stock exchange. The value of the gift will be the average of the highest and lowest selling prices quoted for the security on the day of the gift.
Closely held securities – securities in entities that have been organized for profit-making purposes and are rarely traded on stock exchanges. Donors may give shares of closely held stock to the University in the same manner as publicly traded securities. Special IRS guidelines exist for the valuation of closely held stock, and the donor will be responsible for obtaining the information which they will need in order to comply with the IRS guidelines.
Methods of Delivery & Effective Date of Transfer
Electronic Transfer - If securities are electronically transferred from a donor's brokerage account to an account held in the name of the University via the Depository Trust Company (DTC), then the value of the gift will be its fair market value on the date on which the securities are transferred to McMurry’s. Below is the DTC instructions which the donor will give to his/her broker along with a letter of instruction regarding the specific securities to be transferred. A copy of the letter of instruction should be sent to the University in order that the donor may be receipted properly.
Commonwealth Financial Network
One University Park
29 Sawyer Road
Waltham, MA 02453
Account info: DTC# 0226 FFC McMurry University acct# 0QF-758868
Hand Delivery - If securities are hand delivered to McMurry University, the value of the gift will be its fair market value on the date of delivery. To transfer ownership of the stock to the the University, donors should obtain a stock power, signing it exactly as it appears on the certificates, and have their signature guaranteed by their banker or broker. For securities that are hand delivered, the gift date is the date the securities are delivered to McMurry’s Office of
Advancement except in the case where ownership of the security is transferred by a transfer agent and a new certificate is issued in the name of McMurry University. In this case, the date of the gift will be the transfer date indicated on the newly issued certificate.
Mailing - If the securities are mailed to McMurry, the value of the gift will be its fair market value on the date the securities were postmarked except in the case of securities transferred via a transfer agent as described above. Donors should obtain a stock power, signing it exactly as it appears on the certificates, and have their signature guaranteed by their banker or broker. The stock power and a letter of instruction should be mailed to McMurry University’s Office of Advancement under separate cover from the stock certificate(s). McMurry University should be designated on the stock certificate(s), stock power or related instruments of transfer as McMurry University. The stock certificate(s) should be sent by registered mail, return receipt requested, to the University. Unendorsed stock certificates are non-negotiable. The postmark date on the stock power will be used as the gift date when the stock certificate and stock power are mailed under separate covers.
If you have questions about making a donation of securities, please contact Debra Hulse 325-793-4761 or email email@example.com