Gifts of Securities and Mutual Fund Shares

Securities

Gifts of appreciated long-term securities, including stocks, bonds, and mutual fund shares, may generate very favorable tax benefits for the donor. At the time the gift is designated, the donor will receive a tax deduction for the fair market value if owned for more than twelve months.

If your stock is held by a broker or bank, the electronic transfer instructions you must provide them are:

DTC Participant #: 015
Account Name: Bennington College Corporation
Account Number: 413-037023-0-048
Federal Tax ID#: 03-0179414
Stock Broker: Lucinda Bain 
Broker Telephone: 800-869-9660
Brokerage: Morgan Stanley Dean Witter
30 Main Street, 5th Floor
Burlington, VT 05401

To learn more about the details of gifting appreciated securities, please contact Sean McGrath at 800-598-2979 or smcgrath@bennington.edu.

Mutual Fund Shares

If you are contributing shares from a mutual fund, please contact Bennington College in advance 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 (3 to 4 weeks) to complete.

To learn more about the details of gifting mutual fund shares, please contact Sean McGrath at 800-598-2979 or smcgrath@bennington.edu.

Frequently Asked Questions about Appreciated Securities

Should I sell my stock before giving it to Bennington College?
How will my gift of stock be valued?
When is my gift complete?
How should I transfer securities to Bennington?

• Should I sell my stock before giving it to Bennington College?
  Don’t sell your stock first. Even though you give us the proceeds as a gift, the IRS will impose capital gains tax on your sale, wiping out 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.
• When is my gift 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 should I transfer securities to Bennington?
  If your broker or bank holds your stock, the easiest way to make your gift is to transfer your securities to the College’s stock broker (see the above transfer instructions). 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: Office of External Relations, Bennington College, One College Drive, Bennington, VT 05201, ATTN: Sean McGrath.
• Should you have any additional questions or need further instruction, please contact the Office of External Relations at (800) 598-2979.

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