Planned Giving - Gifts of Stock
Gifts of Publicly Traded Stock, Securities, Bonds
Alumni and friends often find that making a gift of securities to Hanover College is very beneficial due to the tax benefits that derive from such a gift.
Stock gifts are valued for gift purposes according to IRS rules, and are based on the mean price of the stock on the date of the gift. There are no capital gain taxes on appreciated stock that is given to Hanover if the stock has been held by the donor for more than 12 months. However, it is important to follow some simple steps to expedite the transfer of the stock to Hanover.
Stock Certificates
If you have the stock certificate, do not sign the certificate(s). Rather, sign a stock power, which is available from your broker, a bank, an office supply store, or from the Gift Planning Office. ( connolly@hanover.edu )
Mail the stock power in one envelope and the stock certificate(s) in another. Send both to:
Hanover College
P.O. Box 108
Hanover, IN 47243-0108
Attn: Business Affairs
If your stock certificate is for more shares than you want to give to Hanover, please call the College business office (1-800-213-2179 extension 7040) to make arrangements to re-issue shares to you.
Brokerage Accounts
If your stock is held in a brokerage account, there are two contacts your broker should make: Mike Bruce, Vice President for Business Affairs, to alert the College that the gift will be made, and Steve Pratt at City Securities in Indianapolis. Both will work with your broker to accomplish the transfer. You must be sure the broker does not sell the stock and then transfer the proceeds to Hanover. Such a step triggers a taxable event for you.
Contact information for electronic stock transfers:
Maureen Sheets , Business Office Manager
Hanover College
(812) 866-7040
(800) 213-2179 extension 7040
sheets@hanover.edu
Steve Pratt
City Securities
First Indiana Plaza
135 North Pennsylvania Street
Indianapolis, IN 46204-4402
(317) 634-4400
DTC#: 0141
Hanover Account #: 36920290
It is the policy of Hanover College to sell gifts of publicly traded securities as soon as they are received.
Mutual Funds
Mutual Funds require special handling and take longer to transfer than gifts of stock. To make a gift of mutual funds, please contact:
Darleen Connolly , Director of Planned Giving and Stewardship:
(812) 866-7016
(800) 213- 2179, extension 7016
connolly@hanover.edu
It is the policy of Hanover College to sell gifts of publicly traded securities as soon as they are received.
Partnership Interests, Gifts of Closely Held Stock, Stock Options, S_Corporation Stock and Federal Reserve Items
These items are additional possibilities for unique gifts to Hanover. If you would like information regarding giving any of these assets, please contact:
Abbe Ernstes, Director of Annual Giving:
(812) 866-7015
(800) 213- 2179, extension 7015
ernstes@hanover.edu
NOTE: Information contained on this site is designed to provide accurate information in regard to the subject matter covered. It is not to be used as legal, accounting, investment, or other professional advice. Donors should seek the counsel of professional advisors for legal, accounting, investment, or other professional advice.