GIFTS OF SECURITIES
DTC stock transfers must be completed on or before 12:00 p.m. on Friday, December 29, 2023. Please see the section below titled Gifts of Securities for instructions on transferring stock shares. For information on deadlines for mailing stock certificates, contact Jodi Richards, jarichards@wpi.edu or Kaitlin Badjo, kmbadjo@wpi.edu.
See below for information on how to transfer stock shares.
STOCKS
For calendar year-end gifts, hand delivered stock certificates must be received by 12:00 p.m. on December 29, 2023.
Mailed stock certificates must be postmarked on or before December 31,2023.
If securities are held in a brokerage or trust account, the donor must instruct the broker or trust officer to contact Jodi Richards at jarichards@wpi.edu, 508-831-6760; or Kaitlin Badjo at kmbadjo@wpi.edu, 508-831-4679 for instructions on transferring the securities to WPI.
It is helpful if the donor advises WPI that a gift of securities is forthcoming. Instructions should be provided in writing with a copy to WPI – a sample letter of instruction to a broker is available. Do not instruct your broker or trust officer to sell the stock and forward the proceeds to WPI. In order to avoid the capital gains tax, the stock must be transferred to WPI. The market value of the security is determined by the average of the high and low value of the shares on the date the securities are received.
STOCK CERTIFICATE TRANSFER
If you hold a stock certificate or bond, you may hand-deliver it to WPI or send it via USPS.
All securities in certificate form must be accompanied by a stock power bearing a medallion signature guarantee from a bank that participates in the medallion program. Securities and stock powers sent by mail should be sent under separate cover. Donors should not sign the back of the certificate. The stock power form should be signed and medallioned only; WPI will fill out the remainder of the form. A sample stock power document is available for download.(.pdf)
The value of your stock gift will be determined using an average of the high and low prices based on the date received. Certificates and stock powers sent by USPS should be sent separately, and the gift date will be based on the later of the two postmarks. Hand-delivered securities will have a gift date of the date received by WPI.
