The Cooper Union welcomes gifts of cash, but also encourages donors to consider gifts of securities. Gifts of appreciated securities or stock can often be one of the most advantageous ways to support Cooper Union because of the significant tax relief offered.
By making a gift of appreciated securities that you have owned for more than 12 months, you avoid capital gains taxes on the appreciation, and can take a tax deduction for the securities’ full market value rather than just the original cost.
If the securities are held by your bank or broker in electronic form:
Please contact Donna Lippman at (212) 353-4172 or firstname.lastname@example.org to let us know the name of the securities that you wish to transfer and the purpose for which you want your gift to be used. It is important that you inform us that you are transferring securities so that we can properly acknowledge your gift.
Note: In order to avoid incurring capital gains on a sale of appreciated securities, do not instruct your custodian to sell them. Rather, request your custodian to transfer your securities to our account at JP Morgan, below.
J.P. Morgan Chase
DTC # 0902
Cooper Union Gift Account # P26055
Please note that mutual funds are not eligible for DTC transfer.
If you are in physical possession of the certificates:
- Send or deliver unendorsed certificates by registered mail to The Cooper Union, c/o Business Office, 30 Cooper Square, 7th Floor, New York, NY 10003-7120. Include a hand-signed letter of transmittal in which you fully describe the securities and clearly state your intention to make a gift to the college.
- Under separate cover by first-class mail send a signed and dated stock power for each certificate. Fill in only the description of the securities. Do not fill in The Cooper Union's name as transferee.
- Be sure to endorse the stock or bond power exactly as your name appears on the face of the certificate and to obtain a signature guarantee from a commercial bank or from a broker who is a member of a national securities exchange.
For additional information, please contact Donna Lippman at (212) 353-4172 or email@example.com.