Are there benefits in making a gift of appreciated securities?

Gifts of appreciated securities have the advantage of “capturing” the appreciation with no capital gains tax being paid by the donor.  You are entitled to a federal income tax charitable deduction for the fair market value of the securities on the date of the gift.  Your deduction is claimed for the year in which the gift is made, and you may carry forward any unused deduction for up to five additional tax years if necessary.

 

·      How do I make a gift of mutual fund shares?

If your financial services provider holds mutual funds for your account, shares can be transferred electronically.  The gift valuation is based on the per share value of mutual fund shares on the date of the gift.  If your financial services provider does not hold mutual fund shares, you will need to complete a transfer of ownership form that may be obtained from the mutual fund company.

 

·      How do I make a gift of stock?

There are several ways to make a gift of stock.  The easiest is by electronic transfer.  If you have stock held in an agency account, you may instruct your financial services advisor to electronically transfer the shares to Shippensburg University Foundation through its broker, Orrstown Bank - Trust Department.  Please alert the College of your stock transfer so we may follow up on your gift.  It is helpful for us to know the full name of the stock and the number of shares you intend to transfer. 

 

The gift value is calculated on the average of the high and low price of the stock on the day of the transfer multiplied by the number of shares.

 

The information your financial advisor will need to complete the transfer follows:

 

Orrstown Bank - Trust Department

77 E. King Street

P.O. Box   250

Shippensburg , PA 17257

717-530-2605

 

 

DTC Eligible Securities:

 

( FREE ITEMS - TRANSFERS)

DTC PARTICIPANT #0901

ACCT # 277356

ACCT NAME:  ORRSTOWN BANK