Gifts of Securities
Gifts of stock to support the institutional programs and objectives of Chaminade have increased dramatically over the past several years.
The advantages of giving stock:
A stock donation allows the donor to benefit from two separate tax savings: the tax deduction created by the gift and the avoidance of capital gains tax.
With a gift of appreciated stock, you will:
Receive a charitable income tax deduction in an amount equal to the current market value of the stock. Avoid liability for the payment of capital gains tax. Make Chaminade a direct beneficiary of your investment success.
Procedures for Giving Stock
If the stock is held in certificate form by you:
- Enclose in an envelope the certificate(s) in blank form, together with a letter stating the desired purpose of your gift. Do not place any endorsement or assignment language, or any other written notations, on the certificate(s).
- Enclose in a separate envelope an equal number of stock powers, each bearing only your signature of your name as it appears on the face of the corresponding certificate(s). Do not include any other written information or notations on the stock power(s).
- Send the two envelopes by certified first-class mail to:
Office of Institutional Advancement
3140 Waialae Avenue
Honolulu, HI 96816
Stock powers can be obtained directly from any commercial lending institution, savings bank, or brokerage office. For security reasons, it is imperative that you send the certificate(s) and stock power(s) separately. A certificate is fully negotiable when accompanied by a stock power.
Please do not forward or deliver your certificates to the issuing corporation or its authorized agent for re-registration in Chaminade’s name. It will unnecessarily delay the transfer, which may diminish the value of your gift.
Never designate, name, or identify Chaminade as the transferee on either a stock certificate or stock power.
If the stock is held by a bank or brokerage firm:
- Notify the Development Office of your stock gift intentions by calling (808) 735-4763. To ensure that the transaction is processed in a timely and efficient manner, it is important that you provide the name and telephone number of your banker or broker, a precise description of the stock (company, class, and number of shares), and the anticipated date and desired purpose of the gift.
- Inform your banker or broker, either in writing or by telephone, that you wish to make a gift of shares from your account to Chaminade. Instruct your banker or broker to transfer the shares to the University.
Our brokerage account is set up with Morgan Stanley Dean Witter in Honolulu, Hawaii. Account Number:129-127043-082
Phone Number: Toll Free(800) 465-4071, (808) 525-6905
Please do not instruct your banker or broker to sell the stock from your account and forward the proceeds to Chaminade. Such a transaction would expose you to capital gains tax liability. Instead, transfer the shares directly to the University’s brokerage account.
The procedures outlined above apply to outright stock gifts. If you are interested in utilizing stock to fund a life-income arrangement, such as a trust, gift annuity or pooled fund account, please call the Development Office at (808) 735-4763. Stock Gift Evaluation
Depending on the method of transfer, the value of your stock gift will be the mean or average of the high and low price of the stock on the:
- Date of postmark (mail):
- Date of receipt (wire transfer); or
- Date of delivery (by hand).
Once the gift is recorded, Chaminade will issue a receipt documenting its date and value for your tax records.
Keep in mind…
If you wish to donate only a portion of the shares indicated on the stock certificate, Chaminade can complete the transaction and re-register the remaining shares in your name. In the gift description letter that accompanies the certificate, simply include your complete name, current address, and Social Security number.
The Development Office must be contacted prior to the wire transfer of a stock gift from a bank or brokerage account. Chaminade’s custodial bank cannot accept stock for which it has no identifying information.
Non-marketable or closely held stock, as well as shares of mutual funds, can also be given to Chaminade. If you are thinking about making a gift of one or more of these types of assets and would like to learn more about the transfer process, please call the Development Office at (808) 735-4764.