Stocks and Bonds Held in Brokerage Firm Accounts
Make a gift of publicly traded stocks or bonds held in a brokerage firm account
First, advise Luther College of the transfer so the college can credit you with your gift. You may do so by contacting Peggy Lensing, controller, or Amber Kuennen, accountant and risk manager. During business hours, please call 800-258-8437 ext. 1015, or fax the information to 563-387-2683.
When you contact Peggy or Amber, please provide the following information:
- Name(s) of the corporation(s) and the number of shares or bonds you are giving
- Name and phone number of your broker
- The designation of your gift (e.g., Annual Fund or a restricted fund)
Second, send a letter of instruction to your broker. Be sure to include a full description of the securities you wish to give and your gift’s intended purpose or designation. Please ask your broker to transfer the securities to the following Luther College Charles Schwab account:
Charles Schwab & Co. Inc.
1945 Northwestern Drive
El Paso, TX 79912-1108
For the benefit of Luther College
Donations account # 6194-9889
Luther College tax ID # (EIN): 42-0680466
Third, instruct your broker not to sell the securities. If the securities are sold and the sale proceeds transferred to Luther, you will have to report any capital gains and pay any taxes due. If your broker has questions, he/she should contact Peggy Lensing, controller, or Amber Kuennen, accountant and risk manager, at 800-258-8437 ext. 1015.
And, finally, send a copy of the letter of instruction you sent to your broker to:
Peggy Lensing, Controller
700 College Drive
Decorah, Iowa 52101
Please note: Luther College prefers that donors transfer stocks or bonds to its Charles Schwab account. If you prefer to use another firm, please contact Peggy Lensing, controller, 800-258-8437 ext. 1015, for more information.