Truckee Meadows Community College Foundation appreciates your consideration of a gift of stock to the College. This page defines the nonrestrictive stock donation guidelines and the Foundation’s stock disposition policy.
The TMCC Foundation encourages the donation of stock; however, donating restrictive stock is not recommended due to the burden to the TMCC Foundation in complying with the restrictions during market fluctuations. If you plan to donate stock, please ensure that those stocks are not restrictive and, if the stocks are restricted, please remove the restriction before making a donation to the TMCC Foundation or empower the Foundation to make any necessary changes.
The TMCC Foundation cannot provide tax advice on the deductibility of your gift of stock. Please consult your tax advisor on the rules governing the deductibility of your gift. Timing for Making a Non-Restrictive Stock Donation: The donor will be responsible for making his or her best judgment on when to donate the non-restrictive stocks or securities.
To Make a Stock Donation
Please consider the following steps when making a gift of stock to the TMCC Foundation.
- Securities may be transferred to the TMCC Foundation account at Wells Fargo Advisors. Please contact the TMCC Foundation for the account number.
- Please notify the TMCC Foundation in writing as to the following information regarding the transfer.
- Company name, number of shares transferred, and estimated value of transfer.
- Your name, address, and telephone number.
Stock Disposition Policy
The policy of the TMCC Foundation is to sell all non-restrictive stocks and securities the Foundation receives upon completion of the stock transfer without exception. As soon as the stock transfer is completed, Wells Fargo Advisors will inform the TMCC Foundation of the incoming stock donation. At that point, the TMCC Foundation will execute an order to sell the donated stock immediately. The total amount received by the TMCC Foundation from the sale of the stock will be recorded as the value of the gift for internal reporting purposes. The TMCC Foundation will provide you with an acknowledgement of the date of transfer, the number of shares given, and the name of the stock. However, as is the case with all non-cash contributions, it is your responsibility to assign a value to your gift for tax purposes in accordance IRS regulations.
Please contact the TMCC Foundation.