Stocks and Bonds
Giving securities (stocks and bonds) to Mary Baldwin University provides double tax savings: You can deduct the average of the high/low value of the securities on the date of the gift and avoid capital gains tax on the appreciation.
A gift of appreciated securities, held for more than one year, entitles you to a charitable income tax deduction in the year you complete the gift. You can use the deduction to offset up to 30% of your adjusted gross income. Any deduction exceeding the 30% limit is carried forward for up to five additional years. You may also donate securities you have held for less than one year, but your deduction will typically be based on what you paid for the securities. In accordance with the IRS regulations, the date of the gift will be the date that Mary Baldwin University assumes ownership of the shares. For crediting purposes, the value is determined as the average of the high and low listings (for the stock) on that date. For advice and assistance in specific cases, the services of an attorney or other professional advisor should be obtained.
Securities can support everything from annual fund gifts to life income gifts. For assistance with transferring securities, please call the Office of University Advancement at 800-622-4255.
How do I transfer
Contact your broker or banker to advise them that you wish to give securities to Mary Baldwin University.
You need to specify the type of stock, number of shares you are donating, whether your gift is to be unrestricted or for a specific purpose, and the date by which the gift should be transferred.
To transfer the securities electronically, your broker or banker will need the following information:
Mary Baldwin’s broker: Truist Financial Services
DTC Number: 0226 Clearing Firm: NFS
Account Name: Mary Baldwin University
Account Number: WA7-089458
Send to the attention of W. Stuart Farmer, Jr.
Phone Number: 804-780-3207
University’s tax ID number: 54-0506-319
Call the Office of University Advancement at 800-622-4255 to notify the University of the Transfer Details in order to properly credit your gift. Because DTC information often does not include the name of the owner of the assets, stocks sent without advance notification cannot be matched to the transfers, and we must return them electronically with a request for the identity of the donor.
Have a question about giving options, Campaign initiatives, or anything else about MBU Empowers? MBU’s Advancement leaders would love to talk with you.