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Stocks and Mutual Funds

Gifts of stocks or mutual funds may be donated as outright gifts or as a pledge payment. When you make a gift of securities, your income tax deduction is equal to the fair market value of the securities, and you may avoid capital gains taxes on the transfer.

How to Make a Gift of Stock

If a bank or broker holds your stock, please notify Central College in advance by contacting Peggy Van Den Berg, director of advancement services, at 641-628-5174 or vandenbergp@central.edu. Without this information, the college’s receiving company could decline the stock gift or the stock may be transferred to us without any way of knowing you made the gift, making it difficult to give you the proper tax credit and recognition you deserve.

To complete an electronic transfer of stock, instruct your broker in writing to transfer the stock into Central’s account at our receiving company:

LPL Financial
Michael Roozeboom
700 Main Street, Suite 103
Pella, IA 50219
mroozeboom@midwestone.com
Phone: 641-628-9773

This type of electronic transfer is done via the Depository Trust Company system. Receiving account information:

Central College
Acct # 5254-9887
DTC 0075
Central College Tax ID 42-0680344

If you hold the physical stock certificates yourself, mail them and a completed stock power form in separate envelopes (by certified mail) on the same day to:

Central College
ATTN: Advancement
812 University St., Box 5200
Pella, IA 50219

The gift date of stock held in “street name” by a brokerage firm is the date when the shares were transferred on the books of the brokerage house. The gift value of the shares is the average of the high and the low on the gift date.

 

How to Make a Gift of Mutual Funds

Plan ahead when making a gift using shares of mutual funds. Since the mutual fund transfer process varies by company, please contact Peggy Van Den Berg, director of advancement services, at 641-628-5174 or vandenbergp@central.edu to obtain the applicable transfer instructions. The transfer process takes longer than a stock transfer, so please allow four to six weeks for the transaction to be completed. If you are planning on making a year-end gift, please start the process in early November.