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Thank you for considering a gift of securities to Westmont.
Gifts of securities often confer significant tax benefits on a donor. For example, contributions of appreciated securities held for over a year are generally deductible at market value, regardless of what the donor paid for them; moreover, the capital gains tax is avoided through such a gift.
To Make a Gift of Securities
Notify Westmont
Please notify the college of your intention to make a stock gift.
Via phone or email: Janet Sawlaw Senior Gift Processing Specialist 805.565.7073 |
Via mail: Westmont College Office of College Advancement |
We strongly recommended that for each gift, you forward information by e-mail or regular mail giving us your name, the name of the shares you are transferring, and the area where you'd like to donate (i.e., Westmont Annual Fund, Endowment). Frequently brokerages don’t let us know who made the stock gift, so it’s essential that you let us know.
Transfer Shares
Westmont's Primary Brokerage Account is:
Lisa Barrantes, CRPC® ChFC® Financial Advisor, Raymond James |
Account number 29410657; DTC number 0725 (805) 730-3360 or Toll-Free at (855) 608-7546 |
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:
Lisa Barrantes, CRPC® ChFC® Financial Advisor, Raymond James |
Account number 29410657; DTC number 0725 (805) 730-3360 or Toll-Free at (855) 608-7546 |
The date of the gift is determined by the act of “relinquishing” the stock. In the case of electronic transfers, the date of the gift is determined when the shares are received in Westmont's account.
Once the stock is received and transferred to Westmont’s account, we will receive notification of the transfer, and a receipt will be sent to you.
For questions about the process, please contact:
Jena Harris, Executive Assistant to the VP for Finance (805) 565-6048, jharris@westmont.edu. |
Janet Sawlaw, Senior Gift Processing Specialist (805) 565-7073, jsawlaw@westmont.edu |
If you hold the certificate for your shares:
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.
The date of the gift is determined by the act of “relinquishing” the stock. In the case of electronic transfers, the date of the gift is determined when 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 Janet Sawlaw (College Advancement) or Jena Harris (Office of Finance), both located on the second floor of Kerrwood Hall.
Once the stock is received and transferred to Westmont’s account, we will receive notification of the transfer, and a receipt will be sent to you.
For questions about the process, please contact:
Jena Harris, Executive Assistant to the VP for Finance (805) 565-6048, jharris@westmont.edu. |
Janet Sawlaw, Senior Gift Processing Specialist (805) 565-7073, jsawlaw@westmont.edu |
Receipting of stock gifts
Receipts to donors indicate the number and types of shares. For recognition purposes, we credit the donor of publicly traded stock with the fair market value that is determined by averaging high and low trading prices on the date of the 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.
IRA Qualified Charitable Distribution
If you are over age 70 1/2, you can give up to a maximum of $100,000 annually from your IRA to Westmont and other charities. These gifts can be made tax-free and will help satisfy your required minimum distribution (RMD). Depending upon your income level, there may be additional income tax benefits. Our Gift Planning team would love to discuss this exciting opportunity with you.
Amazon Smile
Did you know you can give to Westmont when you buy from Amazon? Sign up with AmazonSmile, and Amazon will donate 0.5 percent of your eligible purchases to Westmont. Your purchases count only when you shop from your smile.amazon.com account page. Updating your bookmarks and app settings will take you directly to this page.
Payroll Deduction
Westmont employees can also give through payroll deduction. To access the online form to create or modify your deductions, open the faculty/staff directory and use the login feature on the right-hand side of the screen. Choose to update your information and select: Payroll Gift Deduction.