If the donor has the Certificate, do one of the following:
- Use a separate Stock/Bond Power Form as the endorsement vehicle and send the paperwork to the institution or to ATTN: Assistant Comptroller, the USM Foundation; OR
- Have the stock/bond reissued in the USM Foundation name by sending the Certificate to the Transfer Agent along with the USM Foundation name, address and tax id number. The Transfer Agent will send the reissued certificate to the USM Foundation; OR
- Endorse the back of the certificate and send the paperwork to the institution or to ATTN: Assistant Comptroller, the USM Foundation (However, this is a last resort as a signed certificate is negotiable and if lost could cause the donor a problem)
NOTE: IF THE USM FOUNDATION RECEIVES A STOCK OR BOND CERTIFICATE ABOUT WHICH NO PRIOR INFORMATION HAS BEEN PROVIDED, THE DONOR, IF IDENTIFIED, WILL BE CONTACTED. IF DONOR IDENTIFICATION IS NOT AVAILABLE, THE USM FOUNDATION WILL CONTACT THE INSTITUTIONS.
If the institution receives the Certificate, do the following:
- OIA forwards the certificate and any information regarding the donor and the donor's designation(s) and/or restriction(s) to the USM Foundation Business Office.
- Upon receipt of the certificate by the USM Foundation Business Office:
- The USM Foundation informs the institution of the $ value of the stock/bond; (The dollar value of the gift is the average of the high and low value of the security on the day the gift is given times the number of shares.)
- OIA enters the gift information in Advance or if the stock gift is to benefit the USM Foundation or UMCES, the USM Foundation enters the gift information.
- The stock Certificate is forwarded to the USM Foundation custodian. (Corporate Resolution Forms needed to complete the transaction are on file with the USM Foundation custodian).
- The USM Foundation adjusts the batch posting report to record any gains or losses on the sale of the stock along with any fees associated with the transfer and sale.