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Gifts
of Securities
Indian
Springs School Guidelines for Gifts of Securities
Securities
(stocks, bonds, mutual funds, treasuries, and so forth)
are generally held in one of two ways; they can be held
by a broker in the name of the broker (sometimes referred
to as DTC eligible); or, they can be held in physical
form meaning you have the certificates in your possession
or your broker has them in safekeeping but they are
registered in your name (sometimes referred to as "being
held in street name").
If
your securities are held by a brokerage firm (DTC eligible),
you may make the transfer to Indian Springs School in
either of two ways, through Indian Springs' broker or
through your broker. In order to maximize your gift
to Indian Springs School and to make the transfer in
the most effective way, we prefer that you use Indian
Springs School's broker.
To make a gift of DTC eligible securities using Indian
Springs' broker, you should do as follows:
- Forward
to your broker a letter of instruction (including
the specific name and number of the securities
you are giving) requesting that the securities
be transferred via DTC to:
NBC Securities,
Inc.
DTC #0306
Account # 43772753,
Indian Springs School
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- Send
or fax a copy of your letter of instruction
to the Director of Development, Indian Springs
School (address and phone and fax numbers are
shown below).
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To
make a gift of DTC eligible securities using your own
broker, you should do as follows:
- Forward
to your broker a letter of instruction including
the specific name and number of shares of the
securities you are giving.
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- Send
or fax a copy of your letter of instruction
to the Director of Development, Indian Springs
School, noting your preference that Indian Springs
School use your broker to sell the securities.
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- Request
that your broker contact the Director of Development
at Indian Springs School for instructions following
the transfer to Indian Springs School.
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If
your securities are held by you or held by your broker
in street name, you should do the following:
- Do
not endorse the certificates. Mail the unendorsed
certificates with a letter of instruction, first
class, to the Director of Development, Indian
Springs School.
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- Mail
a stock or bond power (obtainable from your
broker or banker or use a facsimile of the back
of the certificate) with a copy of the letter
of instruction under separate cover to the same
address. Sign the power and have the signature
guaranteed by your broker or banker, but do
not fill in anything else because it prevents
the securities from being readily negotiable.
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- If
the certificates are already endorsed, they
should be sent by insured mail or delivered
by hand to the address below.
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Irrespective
of how the transfer is made, Indian Springs School will
provide a receipt for tax purposes, including the date
of the transfer to Indian Springs. The value of your
gift for tax purposes is determined by the average of
the high and low selling price on the date of the transfer.
If
you have additional questions or prefer other arrangements
be made, please contact:
Gisèle
Crowe
Director of Development
Indian Springs School
190 Woodward Drive
Indian Springs, Alabama 35124
(205) 988-3350
FAX (205) 988-3797
gcrowe@indiansprings.org
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