Gifting Stocks, Bonds, and Mutual Funds
Appreciated securities are an excellent choice, tax-wise, for making a gift to Tennessee Tech University Foundation ("Foundation"). The simplest way to make a gift of publicly traded stocks, bonds, or mutual funds is to use your own broker, who may hold your securities in certificate or "book entry" form. Simply instruct your broker to transfer your securities into the following Foundation account:
Raymond James Financial Services, Inc.
Account Name: Tennessee Technological University Foundation
Contact: Matthew Brown, Branch Manager
Adam Cunningham, Financial Advisor
Address: 304 N. Washington Ave., Cookeville, TN 38501
Direct Phone: 931-520-0778
Your broker may require you to authorize the transaction by completing a short form. Although transfer time varies from broker to broker, it should not take more than a few days to complete. Please allow 15 business days to receive acknowledgment of your gift.
We request that you inform Elizabeth Williams of any pending stock transfer so that we may facilitate the process. She can be reached by phone at (931) 372-6101 or by email at firstname.lastname@example.org.
Stock Certificates Held by Donor
If you have stock or other securities for which you have certificates and you wish to donate these to the Foundation, please contact our office.
Preferably, you should not assign the stock to the Foundation by signing the back of the certificate. Instead, please complete a letter of authorization form and a stock/bond power form. Mail the stock certificate and signed, notarized authorization form in an envelope and the completed stock power form in a separate envelope.
Send both via certified mail to:
Tennessee Tech University Foundation
PO Box 1915
Cookeville, TN 38505
Tips for Gifts of Stock
Any tax implications relative to a stock gift must be determined in consultation with your financial advisor. The value of your gift for tax purposes is not dependent upon the Foundation's sale of the stock. The amount of gift credit is equal to the average of the high and low values of the stock on the date of the gift. The date of the gift will vary depending upon which transfer method you use. If you make your gift by wire, then the gift date is the date the stock is transferred into the Foundation's account. If you mail your gift, then the date of the gift is the date you place the stock certificate, stock/bond power, and letter of authorization in the mail. If you choose to have a stock certificate reissued in the Foundation's name, the date of the gift is the date on the certificate.