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Transferring Gifts of Stock
Transferring Gifts of Mutual Funds
This section provides procedures for making an outright gift with stock. Please see our Gifts of Mutual Fund Shares for information on transfers from a mutual fund.
Gifts of Stock:
Valuing Gifts of Appreciated Securities:
For your current income tax charitable deduction, the value of your gift of stock is the average of the high and low value of the securities on the date of gift. Please consult your tax advisor to learn the impact on your personal situation.
For the purposes of valuing the gift to Fordham, gifts of securities are valued the same way: by taking the average of the high and low on the gift date. Fordham provides a statement of the gift value.
Date of Gift:
Date you relinquish control of the securities
Electronic Transfer:
Date of transfer
Certificates registered in your name:
Postmark date on stock power/letter of intent or certificates, whichever is later.
Certificates registered in Fordham's name:
Certificate date
Three Methods of Transferring your Gift of Stock:
1. ElectronicTransfer:
Please note that these instructions do not apply to gifts of mutual fund shares. Please e-mail giftplanning@fordham.edu or scroll down further to learn how to transfer shares of a mutual fund to Fordham University.
Once you have decided on the stock you will transfer to Fordham, please complete and return (by e-mail or fax) the attached form so that we can prepare an acknowledgment for tax purposes. To download the form now, click here.
The instructions below should be provided to your broker for the electronic transfer of stock.
Please allow for sufficient processing time by your broker. Particularly at year-end, at least two weeks may be required.
(Note: The value assigned to your gift is the average of the high and low on the date of gift, the date it is actually transferred to Fordham.)
Information your brokerage firm will need:
Fordham's Clearing House: Mellon Financial Market, LLC
DTC #: 0443
Account Name: Fordham University
Account Number: N7M001319
Send to the attention of: Jason Rakip
Phone Number: (412) 234-6145
Fordham’s Tax ID #: 13-1740451
2. Stock Certificates Registered in Your NameCertificates may be sent to:
Albert R. Checcio
Vice President for Development and University Relations
Fordham University
888 Seventh Avenue, 7th Floor
New York, NY 10019
For security reasons, the stock certificates must be mailed separately from the signed stock power and/or letter of intent. They should be sent registered or certified mail.
Please sign the stock power or letter of intent and have your signature Medallion Signature Guaranteed by a commercial bank or other financial institution. Please do not sign the stock certificate. The transfer agent will complete the remaining sections.
3. Stock Certificates Registered in Fordham's Name
If you wish, the stock may be re-registered in Fordham's name. Your broker would do this for you. Then we would only need a letter of intent and the stock certificate(s). They should be sent registered or certified mail to: Albert R. Checcio, Vice President for Development and University Relations, Fordham University, 888 7th Avenue, 7th floor, NY, 10019.
Tax Reporting
For all gifts of stock, you may be asked for Fordham's tax ID #: 13-1740451
The IRS may require that Form 8283 Section A be submitted with your Federal tax return to report gifts of stock for more than $500. Please consult your tax advisor to confirm this for your personal situation.
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Gifts of Mutual Fund Shares
The simplest way to use shares of a mutual fund to make a gift to Fordham is to instruct your fund to transfer shares to a charitable pool from which it can forward a check to Fordham. The donor must make the request for the transfer, usually in writing. Mutual fund transfers can take several weeks to execute.
You may be asked for Fordham's tax ID #: 13-1740451
Please contact Fordham's Office of Gift Planning at giftplanning@fordham.edu to advise Fordham of your plans so that the University can acknowledge your mutual fund gift for tax purposes.
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