Gifts of Stock

Your annual gift is critical in supporting the highest priorities of the academy-faculty and programs, scholarships, technology and campus renewal. Our fiscal year ends June 30. You can make a gift by check or credit card or by donating appreciated securities>. A gift by December 31 may give you an income tax deduction for the current year and will save us further solicitation costs and volunteer time.

Subject to certain limitations, you may make a charitable gift of stock at a remarkably low after-tax cost. These tax savings are achieved in two ways. First, you pay no capital gains tax on the transfer of stock to Andover. Second, you may receive an income tax charitable deduction for the full fair market value of the stock on the date of the gift (assuming you have held the stock for longer than 12 months).

Example: Mr. Phillips purchased some stock many years ago for $1,000. It is now worth $10,000. An outright gift of the stock to Phillips Academy could result in a charitable contribution deduction of $10,000. In addition, there is no tax on the $9,000 of appreciation.

For instructions on making gifts of stock, mutual funds shares, or thinly traded shares
Please contact Barbara Jean Jesmer, by phone at 978-749-4298, or by fax at 978-749-4678, or by e-mail at bjesmer@andover.edu and tell her the name of the stock, the number of shares, and the designation. Without the name of the donor, Phillips Academy will be unable to sell the shares, and the donor will not receive credit for the gift.

To send stock by wire transfer (DTC)
Notify your broker of the following information:

• The securities should be transferred to Phillips Academy’s account at Fidelity Investments; the account name is Trustees of Phillips Academy.
• Phillips Academy’s DTC number is 0226.
• Phillips Academy’s NEW account number is 479428167.
• Phillips Academy’s Federal I.D. number is 04-2103579.
• Include the donor’s name and the designation (i.e., Andover Fund) on the transfer.

To send stock certificates by mail
Send a dated cover letter and the unendorsed certificates by registered mail to Phillips Academy, Office of Academy Resources, 180 Main Street, Andover, MA 01810-4161. Include your name and address and the purpose of the gift. In a separate envelope, send the stock power (available from your broker or banker) and a copy of your cover letter. The stock power should be left blank except for the date and your signature, which must be exactly as your name appears on the stock certificate and must have a Medallion Signature Guarantee from a national bank or brokerage firm. (Do not confuse this with a notary public. Notarized signatures will not be accepted by the Securities Transfer Corporation.)

The official date and value of the gift varies according to the delivery method. Generally, if the stock is transferred electronically (DTC’d), the date of the gift is the date on which the stock is received into Phillips Academy’s account at Fidelity Investments. If the stock certificate is mailed via regular U.S. mail, the date of the gift is the postmark on the envelope. If delivered via commercial courier (such as Federal Express), the date of gift will be the date on which the shares are received by the academy.

The value of the stock will be the average of the reported high and low of the security on the date of the gift.

For information on establishing a life income gift with stock
Call David Flash, director of gift planning, at 978-749-4297 or e-mail him at dflash@andover.edu.

This information is, of necessity, general in nature. Together with your legal and financial advisers, we can help you plan and implement a year-end charitable gift that supplements your generosity with available tax benefits. We thank you, as always, for your support.