How to Make Gifts of Stock or Securities

A gift of appreciated stock is a great way to support the College. In order to save taxes, it is necessary to transfer the appreciated securities directly to the Foundation, rather than selling the securities and giving the proceeds to the Foundation. By following the steps below, you will ensure that your gift is handled properly.

It is important to notify Westchester Community College Foundation when you intend to make a gift of securities. Before making your gift, please notify Westchester Community College Foundation that your gift will be coming by calling 914-606-6670.

Electronic Transfer (preferred method for stock held in a brokerage account): Electronic transfer allows you to easily make a gift of stock you hold in a brokerage account. First, notify your broker that you wish to make the gift to Westchester Community College Foundation.

Your broker’s instructions should include:

The Westchester Community College Foundation’s account at Morgan Stanley Smith Barney is set up for accepting the electronic transfer of securities. To transfer securities to the Foundation, please contact Morgan Stanley Smith Barney at the phone number below.

Name of Account: FBO Westchester Community College Foundation

Account Number: # 409-093492

DTC Number: 0015

For further information about the transfer of stock, please contact:

Jeff Goldberg, Chief Financial Officer
Westchester Community College Foundation

Certificate Transfer (for shares that you hold as paper certificates in your name):

If you prefer, you may call to make arrangements to hand deliver the stock certificate and stock transfer power to the Foundation.

Tax Reporting for Gifts of Securities:

Please consult your tax advisor regarding all aspects of a charitable gift of appreciated securities. The IRS may require you to complete Form 8283 for a gift of securities.

WCC Foundation Federal ID# 23-7050397

Westchester Community College Foundation will issue a gift receipt with the amount of the average of the high and low trading prices on the effective date of gift, per IRS regulations.

The effective date of the gift for your deduction is the date of transfer to Westchester Community College Foundation:

For more information, please contact Ilene Lieberman, Senior Director of Development and Leadership Giving, (914) 606-6834. Thank you for your support of the WCC Foundation.