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Cash and Securities
Gifts of cash have an immediate and direct impact on our ability to further our goals and achieve our objectives. They are not subject to gift or estate taxes, and you can deduct the gift amount on your federal income tax return, up to 50% of your adjusted gross income. Should the gift total exceed the gift ceiling for one year, you can carry over the remaining deduction to succeeding tax years until it's exhausted, or for up to five years, whichever comes first. With careful planning, nearly every outright gift to us can be fully deducted. Pledges allow you to fulfill a commitment over a two to five-year period and afford us the ability to plan and implement programs with confidence.
Gifts of securities are credited like cash gifts and can be transferred electronically. If they are readily marketable and held in your broker's account, notify your broker of the intent to give stocks to The Ohio State University and the College of Veterinary Medicine and instruct him/her to call Karen Barnes at (614) 292-2441. Knowing the type of stock and designation of gift facilitates timely transfer. Karen can provide your broker with transfer instructions, notify the Office of the Treasurer, and send you a receipt for your gift. The date the security is in Ohio State's account is the gift date. If the securities are in certificate form, go to an officer of a nationally chartered bank or broker and complete a Stock Power form. The officer or broker guarantees your signature (a notary public cannot do this). You then mail the certificate and stock power in two separate envelopes to: Karen Barnes, 113 Fawcett Center, 2400 Olentangy River Road, Columbus, OH 43210-1027. The postmark date is the gift date.
You can give the certificate and signature guaranteed stock power to an appropriate Ohio State representative. The date you hand over the stock is the gift date.
You can submit the certificate to a transfer agent for shares to be reissued in the name of The Ohio State University Foundation, 113 Fawcett Center, 2400 Olentangy River Road,
Columbus, OH 43210-1027. Foundation IRS#31-1145986. The date on the certificate is the gift date.
If the securities are not readily marketable, arrangements can be made with the Treasurer's office prior to accepting the gift. Mutual Funds can take weeks to transfer into The Ohio State University's name. Regina Wright (614) 292-6261, in the Office of the Treasurer, facilitates mutual fund transfers. The date of the transfer is the gift date. Ohio State values securities and mutual funds by averaging the high and low on the gift date.
For general questions on securities, call (614) 292-2141 or send e-mail to gifts [at] osu [dot] edu.