Gifts of Marketable Securities

POLICY: 8.3
Effective Date:
Last Updated: 04/17/2017

It is the policy of UGA for securities to be sold as soon as is practicable after the securities have been received. In order to expedite this process, an account has been established to handle these transactions. The preferred method of transfer is to utilize the Depository Trust Company (DTC). An alternate means of transfer is for the actual certificate to be transferred and registered, but this method is much slower. After securities have been received, the securities will be sold and the proceeds applied as designated by the donor. The instructions for both methods are at the end of this section.

In certain circumstances, the donor(s) may request that another broker be used to sell the securities on behalf of UGA. In this situation, to be done on an exception basis, the broker will establish an account in his/her firm in the name of the receiving entity. The broker will work with the Office of Gift Accounting to obtain the necessary corporate information to open the account.

After the account has been opened and the securities transferred to the account, the broker will sell the security and send the proceeds, the net of commissions, to the UGA Foundation.

For additional resources on gift processing, please see University of Georgia Foundation Policies.

Account Name:

The University of Georgia Foundation

UGA Foundation DTC Number:

5198

UGA Foundation Account Number:

706-04354

UGA Foundation Taxpayer ID Number:

58-6033837

UGA Foundation Broker:

Peter Amann
Merrill Lynch
Atlanta, Georgia

Assisted by:

Elizabeth (Liz) Hajnal
elizabeth.hajnal@ml.com

Merrill Lynch Office Number:

(404) 264-2914
(800) 937-0838

Merrill Lynch Fax Number:

(404) 890-7822

 

The Office of Gift Accounting should be notified of the name and number of shares of securities being transferred.

Gift Accounting
UGA Foundation
394 S Milledge Ave
Athens, GA 30602

Telephone: (706) 542-9270
Fax: (706) 583-0793
Email: gifts@uga.edu

The following information (or as much as possible) is needed:

 - Donor Name

 - Designation - if split then supply % to each account

 - Expected gift amount

 - Type of Security

 - # of shares

While DTC allows a speedy delivery of securities, it does not provide a great deal of information in the account. The donor should be advised to have his or her broker attach the donor's name to the DTC instructions.

 

GIFTS OF STOCK CERTIFICATES

1. Do not sign the certificate(s).

2. Please sign one (1) Stock Power for each stock issue. Please make extra copies as necessary. Sign your name on the form exactly as indicated on the stock certificate.

3. Please mail stock certificate(s) to the UGA Foundation unsigned and in a separate envelope from the Stock Power(s).

4. Lastly, please mail the Stock Power(s) to the following address:

Gift Accounting
UGA Foundation
394 S Milledge Ave
Athens, GA 30602

 

STOCK CERTIFICATES REGISTERED IN THE NAME OF UGA FOUNDATION

1. Simply have the donor mail or deliver the certificates(s) to UGA Foundation (see #4 above).

2. The Office of Gift Accounting will handle the remaining details. Please contact Gift Accounting at (706) 542-9270 or gifts@uga.edu with questions.

 

STOCK VALUATION

For all gifts of marketable securities, the Office of Gift Accounting will obtain the high and low price for the date the gift is officially transferred. The valuation is based on the average of the high and low price quoted for that date. The average price sets the price per share for gift valuation.

In many cases, there is a period of time between the date of gift and the date of sale. It is common that a gain or loss may be recognized on the sale of the stock. The gain/loss will be booked to the fund receiving the gift. The gift valuation for the donor is not adjusted. For split gifts of donated stock (designated to benefit more than one fund), all gains/losses will be split according to the original gift designation unless otherwise requested in writing by the donor.