Planned Giving Program: Securities
Making a Gift of Securities is Simple
As growing numbers of donors to the Upstate Medical University Foundation are discovering, gifts of long-term appreciated securities offer many advantages to the donor while supporting the mission of Upstate Medical University at the same time. With a gift of appreciated securities, you can:
- receive an income tax charitable deduction based on the market value of the security at the time of the gift, if you itemize your tax return.
- avoid capital gains tax on the appreciated value of the securities.
- direct your gift to a variety of purposes or programs at Upstate Medical University.
- fund a life income agreement such as a charitable gift annuity or charitable remainder trust.
If your bank or broker holds the securities
- You can authorize your bank or broker in writing that you wish to make a gift/transfer of a number of shares of a stock or bond to the Upstate Medical University Foundation.
For example:
Name of your bank or broker:
I wish to make a gift of [ number of ] shares of [ name of security ] to the Upstate Medical University Foundation for unrestricted
purposes/or for the purpose of [ name of program if you wish].
Send a copy of your authorization letter to:
-
Terry Heany
Upstate Medical University Foundation, Inc.
750 East Adams Street
Syracuse, NY 13210
- Advise your bank or broker to contact Terry Heany at 315-464-4265 for specific instructions regarding the transfer.
If you hold the securities certificate(s)
- Send the certificate(s) by certified/registered mail, without any endorsement or assignment, to Terry Heany at the above address.
- Enclose a letter stating the purpose of your gift.
- In a separate envelope (which can be included with the certificates), send a stock/bond power to Terry Heany at the above address for each security you are giving. The stock/bond power form can be provided on request. Leave the form blank, except for your name and signature which must be exactly as your name appears on the certificate or bond. The Upstate Foundation will complete all of the other information on the form and will guarantee the signature when the stock
certificate(s) or bond(s) are sent for transfer.
You also need to know:
Do not instruct your bank or broker to sell the securities and forward the proceeds to the Upstate Medical University Foundation. This would make your gift a cash transaction and you would be liable for capital gains tax.
The value of your gift will be the mean or average of the high and low trading prices on the official date of your gift, as listed here:
- the postmark date if the gift is mailed.
- the date of receipt by the Foundation if hand delivered or sent by overnight courier.
- the date that your gift is received in Upstate Medical University Foundation’s account if sent by electronic transfer.
You can call or e-mail Terry Heany at any time for information and assistance in giving securities to the Upstate Medical University Foundation.
- The Upstate Medical University Foundation urges you to consult your attorney or financial advisor when developing a charitable gift annuity or other planned gift to ensure that you and your family receive the most advantageous financial and tax benefits. A listing of attorneys and financial advisors who specialize in estate planning can be provided upon request.
