How to Give a Gift of Stock
Step 1: Notify California Lutheran University
To notify the University of your intention to make a stock gift, contact the Director of Estate and Gift Planning Shannon Yasman at 805.493.3838 or firstname.lastname@example.org. If Shannon is not available please contact Associate Director Richard Holmes at 805.493.3586 or email@example.com. If neither is available you may contact Anne Cossentine the Director of Asset Management at 805.493.3171 or firstname.lastname@example.org. Lastly, you may contact Steve Wheatly the VP for Advancement at 805.493.3828 or email@example.com or Karen Davis the VP for Administration and Finance at 805.493.3164 or firstname.lastname@example.org.
It is strongly recommended that for each gift, one should forward a letter (by e-mail or fax) giving your name, the name and amount of the shares being transferred, the expected date of the transfer, and the purpose for which the gift is to be used (i.e. CLU Annual Fund, Endowment, Scholarship, etc.).Download Sample Donor Letter
Office of Estate and Gift Planning
California Lutheran University
60 W. Olsen Rd. #1750
Thousand Oaks, CA 91360
Fax (805) 493-3831
Step 2: Transfer Shares
Transfer your shares to California Lutheran University by one of the following means:
If your shares are held in an account
- Ask your broker to make an electronic transfer of the shares to California Lutheran University Broker Account at State Street Bank and Trust
- If the stock is currently in an account with a company other than State Street Bank and Trust you must complete a DTC transfer to the following account:
California Lutheran University
State Street Brokerage Services, Inc.
DTC #0226 National Financial Services (NFS) for further credit to account # AB2-036722
Account Name: California Lutheran University
- Please have your broker contact Shannon, Richard, Anne, Steve or Karen on the date of the transfer to confirm and identify the transaction details.
- State Street Brokerage Services can be reached at 800-715-0485. Once the stock is received and transferred into Cal Lutheran's account, we will receive notification of the transfer, and a receipt will be sent to you.
If you hold the certificate for your shares
- Endorse each certificate
- A guaranty of the signature must be executed by both donor and an institution or bank which is qualified to complete the guaranty.
- Please do not complete the back portion of the certificate.
- Mail to California Lutheran University at the address above and include a letter indicating to what purpose the gift should be directed.
- Print and complete the Stock/Bond Power Form and the Letter of Authorization to Sell and Assign Securities and send to California Lutheran University in a separate envelope from the certificates(s).
For Gifts of Mutual Funds
- For gifts funded with mutual funds, please call the Office of Estate and Gift Planning at 805-493-3166 for special instructions. Transfers of mutual fund shares may take three to four weeks (or longer) to accomplish. Please allow plenty of time for this type of gift. Cal Lutheran will need copy of your latest statement and a letter indicating the fund name and dollar amount to be given. It is very important to contact the Office Estate and Gift Planning early for mutual fund transfers.
- For gifts of International-Based Securities (i.e. Euro-Bonds) please call us for directions at (805)493-3166.
Determining the Gift Date
The date of the gift is determined by the act of "relinquishing" the stock.
- Electronic transfer: the date the shares are received in Cal Lutheran's account.
- Mail: If mailed through a private mail service (FedEx, etc.) the gift is complete on the date we receive the mail containing the stock certificates and signed powers and assignment documents. Each should be mailed separately. If mailed through USPS, the gift is complete on the date of the postmark of the last envelope to arrive at Cal Lutheran (in case they do not arrive at the same time).
- Hand delivery (with all necessary endorsements to Cal Lutheran): the date of delivery. Certificates must be delivered in person to the Office of Estate and Gift Planning located on the 2nd floor of the Pederson Administration building, or to the Hansen Business Office. Campus map »
Receipting of stock gifts
Receipt letters to donors will indicate the number and types of shares, the date of the transfer and the value of the gift. For valuation purposes, the donor of publicly traded stock will be credited with the fair market value of the stock which is determined by averaging high and low trading prices on the date of the gift (see above paragraphs to determine the date of a gift).
If a stock transfer occurs after the close of the market on Friday, the donor will be credited with the average between the high and low value of Friday and the following Monday's trade price.
Liquidation of stock
Stocks are liquidated as soon as we receive them at California Lutheran University or upon notification by our broker that the shares have been transferred to one of Cal Lutheran's accounts.