Stock Donation--- An Attractive Method of Giving

 

Stock Donation—

An Attractive Method of Giving

 

Several of our members have donated common stock to the church for meeting annual faith commitments as well as for making special gifts for a specific purpose or a dedicated fund. This method of giving benefits both parties, the donor as well as the receiver. The church pays no tax on security proceeds, while the donor is able to deduct the current value (including capital gains) as a charitable gift. The church may well realize more income than other wise would have been available had the donor paid taxes on the stock’s appreciation. Donors should consult with their tax accountant/attorney for proper treatment on their tax returns.

 

Generally, the church receives securities by the donor transferring a certain number of shares in the name of the church to our broker Self Wealth Management. The Financial Affairs Committee coordinates the sale of any securities, once the church is notified of such a transfer. The Financial Affairs chair or one of our corporate officers, in conjunction with our Church Administrator, coordinates the sale of securities received. Current procedures are to sell the securities with minimum delay.

 

For those members who are interested in this method of giving, the church’s tax ID number and Self Wealth Management numbers are available from Church Administrator Rachel Randall at 584-4602.

 

Last Published: November 8, 2011 12:34 PM
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