Gifts of Securities

FAQs: Gifts of Securities

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• Should I sell my stock before giving it to Bennington College?

  No. Even though you give us the proceeds as a gift, the IRS will impose capital gains tax on your sale, eliminating the benefits of this arrangement.

• How will my gift of stock be valued?

  Its value is the average of the high and low prices for the stock on the date the securities are transferred to the College’s brokerage account.

• How should I transfer securities to Bennington?

  If your broker or bank holds your stock, please provide them with the following electronic transfer instructions. And because many gifts of securities do not include donor information, please also contact the Office of External Relations at 800-598-2979 so that we can acknowledge your gift and ensure that you receive a charitable deduction.

  DTC Participant #: 015
  Account name: Bennington College Corporation
  Account number: 413-037023-110
  Federal tax ID#: 03-0179414
  Stock broker: Lucinda Bain
  Broker telephone: 800-869-9660
  Brokerage: Morgan Stanley, 30 Main Street, 5th Floor, Burlington, VT 05401

  If you hold the certificates in your own name, please sign your name on the back of the stock certificate exactly as it appears on the front of the certificate, prepare and sign a gift intention letter, and mail both to:

  Bennington College
  Office of External Relations
  One College Drive
  Bennington, VT 05201
  ATTN: Sean McGrath

• When is my gift of stock complete?

  If your stock is held by your broker, your gift is complete on the date the shares reach Bennington College’s brokerage account. If you hold the stock yourself and mail it to us, your gift is complete on the postmark date on the envelope.

• How are mutual fund shares handled?

  Please contact Bennington College in advance of contributing shares from a mutual fund as most mutual funds cannot be transferred electronically and have their own set of requirements for making charitable contributions. Please note that gifts of mutual funds can take a substantial time (three to four weeks) to complete.