How to Give a Gift of Stock
Step 1: Notify Westmont
To notify the college of your intention to make a stock gift, contact the gift processing specialist at Westmont College at (805) 565-7053 or email@example.com.
It is strongly recommended that for each gift, one should forward information by e-mail or regular mail giving your name, the name of the shares being transferred, and the purpose for which the gift is to be used (i.e. Westmont Annual Fund, Endowment).
Email to: firstname.lastname@example.org
Office of College Advancement
955 La Paz Road
Santa Barbara, CA 93108
Step 2: Transfer Shares
Westmont's Primary Brokerage Account is:
Lisa Barrantes, CRPC® ChFC®
Account number 29410657
DTC number 0725
The college also has an account with :
Transfer your shares to Westmont by one of the following means:
- If your shares are held in an account
- Ask your broker to make an electronic transfer of the shares to Westmont College through its Raymond James broker.
- For questions about the process, please contact:
- Once the stock is received and transferred into Westmont’s account, we will receive notification of the transfer, and a receipt will be sent to you.
- If you hold the certificate for your shares that you wish to donate to Westmont, choose one of the following methods of transmittal:
- The certificate can be assigned to Westmont and endorsed by the donor on the back with a signature guarantee, or
- The certificate can be mailed without any endorsement and with a fully completed Stock Power. The two documents must be mailed separately to avoid the possibility of unintended use by a party other than Westmont.
- Any of the following methods should be used to mail the documents: Fedex, USPS Priority Mail, UPS. Always request tracking.
Determining the Gift Date
The date of the gift is determined by the act of “relinquishing” the stock.
- Electronic transfer: the date the shares are received in Westmont’s account.
- Mail: If mailed through a private mail service (FedEx, etc.) the gift is complete on the date we receive the mail containing the stock certificates and signed powers and assignment documents. If mailed through USPS, the gift is complete on the date of the postmark of the last envelope to arrive at Westmont (in case they do not arrive at the same time).
- Hand delivery (with all necessary endorsements to Westmont): the date of delivery. Certificates may be delivered to Audra Pearce (College Advancement) or Jena Harris (Office of Finance), both located on the second floor of Kerrwood Hall.
Receipting of stock gifts
Receipts to donors indicate the number and types of shares. For recognition purposes, the donor of publicly traded stock will be credited with the fair market value which is determined by averaging high and low trading prices on the date of the gift (see above paragraphs to determine the date of a gift).
Liquidation of stock
Stocks are liquidated as soon as we receive them at Westmont College, or upon notification by our broker that the shares have been transferred to one of Westmont’s accounts.