Valuation of a Gift of Securities
According to IRS regulations, donated securities are valued at the mean between the high and low prices for the securities on the gift date. The gift date is the date that the securities pass unconditionally from the donor's control to the Foundation.

• If the securities are transferred electronically to the Foundation's account, the gift date is the date the securities are received in the Foundation's account.
• If the securities are re-registered in the name of the Foundation by a transfer agent, the gift date is the date of re-registration.
• If the securities are transferred to the Foundation from a bank or brokerage firm, the gift date is the date on which the securities are transferred into an account in the name of the Foundation.
• If the securities are mailed, the gift date is the date of the postmark.
• If the securities are delivered in person, the gift date is the date on which the Foundation takes possession of the securities.

By law, a gift of securities is not considered complete until the donor has relinquished control of the securities to the Foundation as outlined above. Giving instructions to a broker does not constitute completion of a gift. If a donor writes a letter of instruction to his/her broker on December 27, but the securities are not transferred until the following January 2, the gift date is January 2.

Note: The gift value shown in the donor's record will differ from the cash value of the gift credited to the equity account due to the method of calculating the gift value and the time delay in selling the securities.

Types of Securities

Publicly traded securities and shares of stock in closely-held companies may be donated to the Foundation.

Publicly-Traded Securities. These are securities regularly traded on a public stock exchange. It is the Foundation's policy to convert publicly-traded securities to cash upon transfer.

Closely-Held Securities. These are shares of securities in entities which have been organized for profit making purposes and are rarely traded on stock exchanges. Donors may give shares of closely-held corporate securities to the Foundation in the same manner as publicly-traded securities. The value of closely-held securities in excess of $10,000 will be determined by a qualified independent appraiser as required by the IRS. Gifts of $10,000 or less may be valued at the per share cash purchase price of the most recent transaction. Normally, this transaction will be the redemption of the stock by the corporation. It is the Foundation's policy to convert closely-held securities to cash. While it is permissible for the donor or donor's company to purchase the securities at fair market value, there can be no redemption agreement either formal or implied, prior to the gift. To ensure that donors of closely-held securities receive a tax benefit of such a gift and that both the donor and the Foundation comply with applicable IRS regulations, special handling is required. Gifts of closely-held securities may only be accepted with the approval of the Foundation's Gift Acceptance Committee.

Methods of Delivery

Gifts of Stock: When a donor makes a gift of stock to the PSU Foundation, please be sure that the donor completes a Gift of Stock Form and that a copy is sent to the Foundation. All electronic stock transfers arrive in the Foundation's bank account without any donor names attached. The Foundation can only identify the donor associated with a stock gift through use of the Gift of Stock Form.

Gifts of securities may be made to PSU in the following ways:

• Through your Broker
  Securities should be delivered to your broker for the account of PSU Foundation. If your broker already holds your securities, he/she should be instructed to contact PSU Foundation and arrange to transfer them irrevocably to our account.
• By Hand Delivery
  All stock certificates must be signed in the presence of a bank officer. The PSU Foundation can help facilitate the transfer by arranging a meeting time. Please contact Becky Hein, x5-5881 for assistance.

If you expect a gift of stock, call your Development Officer and Becky Hein, x5-5881.