Stocks

The method of transfer varies depending on how the stock is held. Most stocks are either held by a broker in an account set up for a client or in certificate form.

Broker Transfer

If securities are held in a brokerage or trust account, the donor must instruct the broker or trust officer to contact Kathy Kuhlwein in WPI's Gift Recording Department (kuhlwein@wpi.edu or +1-508-831-6740) for instructions on transferring the securities to WPI. 

It is helpful if the donor advises WPI that a gift of securities is forthcoming. Instructions should be provided in writing with a copy to WPI - a sample letter of instruction to a broker is available. Do not instruct your broker or trust officer to sell the stock and forward the proceeds to WPI. In order to avoid the capital gains tax, the stock must be transferred to WPI. The market value of the security is determined by the average of the high and low value of the shares on the date the securities are received.

Certificate Transfer

If you hold a stock certificate or bond, it may either be hand delivered or mailed to WPI. In the case of a hand-delivered certificate, you must sign a stock power and have the signature(s) guaranteed by a bank to complete the gift - a sample stock power document is available for download. (.pdf)

The market value will be determined on the day the certificate is received and the stock power signed. When mailing certificates, donors should mail the certificates and a signed stock power, which has been signature-guaranteed by a bank, in separate envelopes on the same day. The market value of the gift will be determined by the postmark date. The donor need only sign the stock power; WPI will complete the form. The donor should not sign the back of the certificate.

 
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