For Certificates Held by a Bank or Broker
Certificates held by a bank or broker can be transferred to Macalester electronically by following these steps:
1. Contact your bank or broker and authorize them to transfer the securities to Macalester through the college’s account at UBS Financial Services in Minneapolis. Give them Macalester’s account number (LO 87179) [Note that the “O” is a letter.] and DTC number (221). Macalester’s broker of convenience at UBS is John Kim, 612-371-4110.
2. Contact Chris Courchane at Macalester (firstname.lastname@example.org) and provide: your name and address, the specific name of the securities to be transferred, the number of shares to be transferred, any special restrictions on the securities to be transferred, the designation of the gift (Macalester Fund, special project, etc.), and the name, address and telephone number of your broker.
Soon after the stock gift is transferred to Macalester’s account at UBS, the college will sell it and designate the proceeds to the appropriate purpose.
For Securities Held by You
If you hold the securities, you may send them to Macalester by ordinary first-class mail using these steps:
1. In one envelope, place
- the securities certificates, unsigned
- a letter stating the purpose of the gift (be sure to include your name and address)
2. In a second envelope, send
- a copy of the letter sent with the certificates
Address both envelopes to:
1600 Grand Avenue
St. Paul, MN 55105
The certificates will not be negotiable until joined with the stock power, so using two separate envelopes will safeguard your gift.
Note: There are important reasons to use the procedures outlined above. For example, do NOT instruct your banker or broker to sell your securities and forward the proceeds; this would represent a cash contribution and you would be liable for the capital gains tax.
Valuing and Acknowledging Your Gift
The value of your gift of securities is the mean between the high and low prices on the day the securities officially pass from your control to Macalester. Macalester will promptly send you a receipt stating the number of shares and the date on which they are officially received.