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 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. The information below will be helpful in expediting your gifts of appreciated stocks and securities.
Official name for Hanover: The Trustees of Hanover College
Tax ID: 35-0868096
Vice President for Business Affairs: Mike Bruce, 812-866-6896
Vice President for College Advancement: Dennis Hunt, 812-866-7017
If you have a paper stock certificate, contact Mike Bruce or Dennis Hunt at Hanover College for specific procedures for transferring paper certificates to Hanover.
Electronic Stock Transfers
Hanover contact person for donors: Dennis Hunt, VP for College Advancement
Hanover contact person for brokers: Mike Bruce, VP for Business Affairs
Note: to avoid triggering a taxable event on appreciated stock, instruct your broker to transfer the stock directly to Hanover; do not have them sell the stock and transfer the proceeds.
Hanover brokerage account contact information
City Securities Corporation
8900 Keystone Xing Suite 300
Indianapolis, IN 46240
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 require special handling and take longer to transfer than gifts of stock. To make a gift of mutual funds, please contact Mike Bruce or Dennis Hunt at Hanover College, then contact Charles Schwab at 800-217-2421 and supply them with Hanover's account #: 5160-3143.
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 Dennis Hunt or Mike Bruce.
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.
Did you know that if you file a state income tax return for Indiana, the state will credit up to 50% of your gift to Hanover College against your state income taxes? For example, if you contribute at least $200 on an individual state return, you'll receive a credit of $100 toward any taxes you may owe. Joint filers can get a $200 credit with a contribution of $400, by filing Indiana tax form CC-40. If you itemize on your federal return, there's even more savings!