For federal income tax purposes, fair market value of the gift is deductible assuming you itemize your deductions for the year in which ownership in the security is transferred to the church.
Prudent tax planning indicates that securities, in which current fair market value is less than your cost basis, be sold by you in order for you to claim the loss for possible tax benefits. The net proceeds from such a loss sale would be available for a charitable contribution to the church.
Special Opportunity for Tax Savings
Send stock certificate(s) by registered mail to:
In a separate envelope, complete and enclose the Stock Transfer Gift Form click here to print stock transfer form. This will authorize the deposit of your stock certificate into the Church’s account and it serves as an additional record of your generous gift. Upon receipt, the donated stock will be deposited in the Church’s account and into the designated fund.
Caution: If you simply tell the broker to sell appreciated securities in your account and send the proceeds to the Church, the gain on the sale will likely be attributed and taxable to you.
Broker Delivery of Stock Transfer (preferred method)
Please click here to print the stock transfer form. Provide the form to your financial advisor to complete your transaction. The St. Elizabeth Ann Seton Catholic Church Account number is 4835-5901. This will authorize the deposit of your stock certificate into the Church’s account and serve as an additional record of your generous gift.
Frequently Asked Questions
Caution: If you submit your certificate to the transfer agent yourself for re-registration, considerable delay may occur. The date of the gift will not occur until the shares are registered in the church’s name on the issuer’s books.
Q What kind of receipt will I get from the Church?
Information contained herein is not intended as legal or tax advice. You should consult your personal advisor if legal or expert assistance is required. The purpose of this publication is to provide accurate and authoritative information of a general nature only.