SECURITY TRANSFERS TO OUR SAVIOUR’S LUTHERAN CHURCH
Our Saviour’s Lutheran Church accepts gifts of appreciated stock and mutual funds.
Donating appreciated stock is one of the easiest ways to give more to causes you care about. By donating stock that has appreciated for more than a year, you are actually giving 20 percent more than if you sold the stock and then made a cash donation. The reason is simple: avoiding capital gains taxes. If you donate the stock directly to a charity, there’s no capital gains tax to pay. Plus, you are still eligible to deduct the full fair-market value of the asset you donated from your income taxes.
For example, if a person bought a stock for $10,000, and over time the stock appreciated to a value of $50,000, gifting the stock may save the capital gains tax owed on the $40,000 increase in value, plus the donor receives a tax deduction for the full $50,000 value of the stock.
Typically for tax purposes, transfers of stocks or ETFs are valued at the average of the high and low on the day of the transfer, and mutual funds at the closing price on the day of the transfer. This value may differ from the amount received by the church. Consult a tax advisor for current IRS requirements.
Securities held at a bank or a brokerage account are generally accepted for transfer to the church brokerage account. After the transfer, the church will immediately sell the securities and transfer cash to the funds you have designated.
1. Notify the Accounting Coordinator at the church 630-355-2522 or email email@example.com of the transfer date, number of shares and security name. This is important to ensure you receive credit on your church giving statement.
2. Let the Accounting Coordinator know which church accounts (ex. General operating, endowment, mission, etc.) to which you wish the proceeds to be used. If not specified, the funds will be put in the general operating fund for the year.
3. Give your broker/bank/mutual fund the following information to allow them to initiate the transfer into the church’s Fidelity brokerage account
DTC # 0226
Name: Our Saviour’s Evan Luth Church