Gifts of Securities

Gifts of Securities

Gifts of appreciated securities are generally more cost effective than gifts of cash. A gift of stock with a long-term gain entitles a donor to a charitable deduction for the full current market value and is exempt from any capital gains tax. For example, if you acquired stock for $1,000 and the current market value is $5,000, you can deduct the full $5,000 and escape tax on the $4,000 capital gain. Under IRS rules, the value of the gift is the mean of the high and the low price on the day the stock passes from the donor's control. Remember, corporation and law firm matching gift programs will honor a donation of securities.

If you wish to make a gift of securities held by bank or brokerage, electronic transfer is the easiest method. Do not sell the stock in your name and have the proceeds sent to us, as this will constitute a cash contribution, and you will be liable for any capital gains tax.

We want to make the gift experience as smooth and seamless as possible. If you would like to check the status of your securities gift or have other questions about securities gifts, please contact our Accounting Assistant, Donna Appleby, directly at (434) 924-3262.

Securities Delivery Instructions: Electronic Transfers

Please deliver your gifts of appreciated securities as follows:

DTC Book Entry Transfers
Clearing Broker: Davenport & Company, LLC
DTC Participant Number: 0715
Account Number: 84952387
Name on Account: University of Virginia Law School Foundation 
Reference: Donor Name

Mutual Fund Transfers/Registrations
For mutual fund gifts, please contact Marie Barté at Davenport & Company, LLC at (804) 780-2056.

Tax ID # 54-0838566

NOTE: To assist us in processing your gift, please be sure to include the reference “Gift from [insert the name of the donor]” on all security transfers.

You may also wish to have your broker or account representative contact Marie Barté at Davenport & Company, LLC at (804) 780-2056 prior to the delivery to ensure that they are comfortable with the delivery instructions listed above and to advise us of the pending delivery.

Securities Delivery Instructions: Physically Held Certificates

For securities physically held by you, please send certificates without any endorsement to the Law School Foundation via first class mail. Then, under separate cover, forward by first-class mail a signed stock power for each security, along with a letter indicating the purpose of your gift. Stock powers are generally available from any bank or brokerage. (Your signature must be medallion guaranteed by a bank or broker, not simply notarized.)

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