Stock gifts can have significant tax advantages. The following is general information regarding gifts of stock to Drake.
As you consider a gift of stock, please remember to let us know when and how we can expect to receive your donation. Standard stock transfer procedures at most brokerages do not include information about the sender of the stock, so it can be difficult for the University to track who made the gift.
There are two ways to make a gift of stock:
A broker can transfer stock directly into a Drake account.Drake’s broker is David Blake at the Des Moines office of Merrill Lynch, (515) 245-8050.Account Number: 660-04253Merrill Lynch’s DTC number: 5198
Stock certificates can be mailed directly to Drake. Contact Drake for a copy of the forms needed to make a paper transfer.
Drake will average the high and low prices of the stock on the date that Drake receives the stock. The gift will be valued at the average price in accordance with federal tax laws.
Questions? Contact Pam Pepper, Assistant Vice President, Alumni & Development.
Drake University Office of Alumni & Development2507 University AveDes Moines, IA 50311
515-271-4558 (Local)1-800-44-DRAKE ext 4558
Official Page of Drake University Privacy & Usage Policy / Technical Support CenterDrake University, 2507 University Ave., Des Moines, IA 503111-800-44-DRAKE / (515) 271-2011 Copyright © 2014 Drake University. All rights reserved.