Gifts of Securities, Mutual Funds and Stocks

Transferring stock and mutual funds can be an easy way to give to Bates and in many cases offers a tax advantage.

Donated securities are valued at the average of the high and low quoted selling prices (or the average of the bid/ask in the case of certain securities) on the date the stock or mutual fund arrives in Bates’ account. We always recommend that you consult with your tax advisor in order to learn more about the advantages of gifting stock and mutual funds..

Stock and Mutual Funds held by my bank or broker

If your broker or bank holds your stock or mutual fund shares you may request that they be transferred directly to Bates College via electronic transfer of DTC. For instructions, please click here.

If you are going to transfer mutual funds, it’s recommended to call Susan Michel in the Office of College Advancement at 207-786-6248 to expedite the transfer with you and your broker or banker. Transferring mutual funds is normally a longer process and requires more paperwork.

Stock Certificates in my name

If you hold the stock in certificate form and it’s in your name at the time you mail it to Bates College, the gift date is the date of the latter postmark of the certificate and the separately mailed stock power form. For instructions, please click here.

If you hand-deliver the stock certificate in person to Bates, the gift date is the date in which Bates College takes possession of the securities. It is still necessary to have a signed stock power form when hand-delivering the certificate in person if the certificate is in your name.

Stock Certificates in Bates’ name

If the certificate has been reissued and is in Bates’ name, the reissue date is the gift date. In this case, a stock power form in not necessary.

Please note that stock transfers normally are completed in a 2-3 business days, depending on your broker. Mutual fund transfers can take 2-3 weeks, especially at year-end, due to the additional paperwork required.


Interested in making a gift of securities to Bates?

Marketable securities held in a brokerage or trust account generally should be transferred to BatesCollege through the DTC process outlined below. In some cases shares can be transferred “internally” to an existing Bates account at another office of the same brokerage firm. If the securities are held in a discount brokerage account, or consist of mutual fund shares, please call Bates for additional instructions. Valuation of the gift is calculated as the mean price of the securities as traded on the date they are deposited in a BatesCollege account.

If this is a life income or deferred gift, please contact Susan Dunning at 207-786-6246 for the correct transfer instructions. Otherwise, please follow the instructions outlined below.

For Depository Trust Company Eligible securities

1. Have your broker call or fax Bates College to notify us and begin the transfer process. The broker should provide Bates with the following information:

  • Name of brokerage firm or trust company
  • Name of broker, phone, and fax number
  • Number of shares and name of security
  • Intended date of transfer
  • Name of donor
  • Intended designation for the gift
Contact: Bates College
Susan Michel/Advancement Services
2 Andrews Road
Lewiston, ME 04240
207-786-6248
Fax: 207-786-8242
smichel@bates.edu

2. Unless otherwise instructed by Bates, process delivery through DTC to:

Key Bank
66 South Pearl St. 4th Fl.
PO Box 22042
Albany, NY
12201
 
DTC Participant #2205 (NDFS and SDFS)
DTC Participant: Society National Bank
Trust Account name: Bates College Gift Account       
Federal ID #: 01-0211781
Trust Account #: 10-10-116-0297282   

 

For Mutual Funds, or any securities held in a Discount Brokerage account

1. Call or fax Bates College to notify us and receive further instructions. Please provide us with the following information:

  • Name of brokerage firm or trust company
  • Name of broker, phone, and fax number
  • Number of shares and name of security
  • Intended transfer date
  • Name of donor
  • Intended designation for the gift
Contact: Bates College
              Susan Michel/Advancement Services
              2 Andrews Road
              Lewiston, ME 04240
              207 786-6248
              Fax: 207 786-8242
              smichel@bates.edu
 

Interested in making a gift of stock to Bates?

Marketable securities held in physical certificate form should be hand-delivered or mailed to the Advancement Office at Bates College with a signed stock power sent under separate cover. It is recommended when mailing the certificate(s) you do so using certified mail. The stock power form can be mailed in a separate first class envelope. Your signature on the stock power must be guaranteed by a bank officer or stockbroker. Valuation of the gift is calculated as the mean price of the securities as traded on the date the envelopes are postmarked, or the date the certificates are hand-delivered to the Advancement Office.

Stock Certificates

1) Mail the unendorsed certificate(s) to Bates via certified mail, or hand-deliver the certificates in person to the address listed below:

Bates College
Office of Advancement Services
Susan Michel
2 Andrews Road
Lewiston, ME 04240

2) Please enclose a note which includes:

  • Name of donor(s)
  • Number of shares and name of security
  • Intended designation for the gift

3) In a separate first class envelope, send to the same address a stock power form for each certificate, signed but otherwise left completely blank. Your signature on the stock power must be medallion guaranteed by a bank officer or stockbroker.

4) The gift will be valued, processed, and acknowledged when both sets of materials are received by Bates.