A gift of securities offers a number of advantages to the donor. The gift is credited for the full market value of the securities, and the donor may deduct this full amount from federal income tax (if it is within 30 percent of adjusted gross income). Moreover, the donor does not pay capital-gains tax on the increased value of the securities.

To make a gift of securities to Western Carolina University, you may:

• send the unendorsed stock certificate and, under separate cover, a signed (with medallion signature guarantee gotten from a bank or brokerage firm) stock-power form executed in blank (no named transferee) and a letter of authorization (states number of shares and name of stock and the allocation for proceeds of sale) with a medallion signature guarantee also to: Office of Development, Western Carolina University, 201 HFR Administration, Cullowhee, NC 28723.

• instruct a broker to transfer the securities from your account to Western Carolina University's account:

State Street Bank and Trust Company
Agent Bank Number: 26016
DTC Number: 2319
Account Number: 4738172 - WCU Foundation.

At the same time inform the Office of Development of the transfer, by mail or telephone (828) 227-7124 to insure proper gift crediting.
 
The value of a gift of securities is established using the mean of the high and low stock quotations on the day the securities pass to Western's control. More information about the date of contribution can be found below. For information on making gifts of closely held stock, life insurance, or other property, contact the Office of Development at (828) 227-7124.

Date of Contribution for Gifts of Securities

If the securities are transferred electronically (via DTC), then the date of contribution is the date on which the securities are received in Western's account. Please note that the gift of securities is not complete until you, and your transfer agent, have delivered the securities to Western’s account. Merely instructing your broker to make the transfer is not enough to satisfy the IRS legal requirement. It has been our experience that, in some cases, brokers move stocks into a temporary account or delay completing the transfer. Be sure to let your broker know when it is essential that the transfer to Western be executed immediately.

For stock certificates mailed or delivered to Western, the date of contribution is the later of: (a) the postmark on the envelope containing the certificate, (b) the postmark on the envelope containing the stock power, (c) the endorsement date on the certificate or stock power, or (d) the date the certificate is hand-delivered to an agent of Western.

If a stock certificate is not sent to Western but registered in our name by the donor and the donor's agent, the date of contribution is the date the stock is transferred on the books of the issuing corporation. For more information, reference documents IRS Publication 561.