Stock Gifts & Electronic Funds Transfer
There are several advantages to donating appreciated assets to Denison University. If you have held the security for more than a year and a day, you avoid capital gain tax and you are entitled to a charitable deduction for the full fair-market value on your income taxes.
Securities may be transferred to Denison University quickly and simply in one of two ways depending on how you hold the securities. If a broker holds the security(s), use method one. If you hold the security(s) in certificate form, use method two.
Direct Transfer: You may donate securities to Denison by notifying your broker that you wish to transfer them to the University. This is called a DTC transfer. You should instruct your broker to contact our office with news of the gift so that we can be on the lookout for your contribution. You will need the following information to make a DTC transfer:
- Account Name: Denison University
- Denison’s account is with Merrill Lynch, located at 65 E. State St., Columbus, OH 43215.
- Telephone Number: 1-888-517-8469
- Broker: Tim or Jack Ryan.
- Contact at Merrill Lynch: Mary Murray – Phone: 614-225-3018
- Denison’s Tax ID number: 31-4379459
- Denison Account #656-04159
- DTC #8862
- Gift date: the date the stock arrives in Denison’s account
Physical Delivery: Send by registered mail the unsigned certificate(s) with a cover letter describing the issue and the number of shares and certificates, indicating your intention to give the securities to:
Denison University, Attn: Kelli Clawson, 100 West College Street, Granville, OH 43023-1100
In a separate envelope, send a stock power (available at any commercial bank or stock brokerage) for each certificate. Before mailing the stock power, sign it and have your signature guaranteed by an officer of a national bank or a broker. If you wish, you may also fill in the name of the issue on the stock power. Your certificate(s) remain nonnegotiable until joined with the stock power(s). Your gift date is the postmarked date of the last document mailed.
Your advisers can provide you with a value for your gift. However, Denison will credit its records, based upon a procedure acceptable to the IRS, by averaging the high and low sale prices on the date of your gift. It is not advisable to request the corporation to re-issue the shares in Denison’s name. This procedure delays the effective date of the gift (the date the transfer of ownership is made on the books of the corporation) and leaves the value of the gift subject to market fluctuations. We advise you to consult with your financial and legal advisors before making a gift.
Please feel free to call us with questions or to notify us of a gift. It is important to let us know which securities you plan to transfer.
Information for Electronic Funds Transfers (EFT)
Park National Bank
119 E Broadway
Granville, OH 43023
50 North Third Street
Newark, OH 43055
Account Name: Denison University
ABA Routing #044101305
(Society for Worldwide Interbank Financial Telecommunication)
Park National Bank: PATIUS31
Wells Fargo: WFBIUS6S
Park does not work directly with any international banks and uses Wells Fargo as an
IBAN: Park National does not have an IBAN number. Most US banks do not.
(International Bank Account Number)
ISO – International Organization for Standardization
There may be a fee deducted from international wire transfers.