How to Give a Gift of Stock
Step 1: Notify Westmont
To notify the college of your intention to make a stock gift, contact the director of advancement systems at Westmont College at (805) 565-6054 or firstname.lastname@example.org.
It is strongly recommended that for each gift, one should forward information by e-mail or regular mail giving your name, the name of the shares being transferred, and the purpose for which the gift is to be used (i.e. Westmont Annual Fund, Endowment).
Email to: email@example.com
Office of College Advancement
955 La Paz Road
Santa Barbara, CA 93108
Step 2: Transfer Shares
Westmont's Primary Brokerage Account is:
Lisa Barrantes, CRPC® ChFC®
NeunuebelBarrantes Wealth Management Group of Wells Fargo Advisors, LLC
The college also has an account with :
Transfer your shares to Westmont 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 Westmont College Wells Fargo Advisors, LLC.
- If the stock is currently in an account with a company other than Wells Fargo Advisors, LLC please contact one of the following individuals:
- Once the stock is received and transferred into Westmont’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 performed
- Please do not complete the back portion of the certificate
- Mail to Westmont College 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 Westmont College in a separate envelope from the certificates(s).
- Endorse each certificate
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 Westmont’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. If mailed through USPS, the gift is complete on the date of the postmark of the last envelope to arrive at Westmont (in case they do not arrive at the same time).
- Hand delivery (with all necessary endorsements to Westmont): the date of delivery. Certificates may be delivered to Janna Mori (College Advancement) or Jena Harris (Office of Finance), both located on the second floor of Kerrwood Hall.
Receipting of stock gifts
Receipts to donors indicate the number and types of shares. For recognition purposes, the donor of publicly traded stock will be credited with the fair market value 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).
Liquidation of stock
Stocks are liquidated as soon as we receive them at Westmont College, or upon notification by our broker that the shares have been transferred to one of Westmont’s accounts.