Gifting Stock to the Church
Why Donate Stock to the Church?
Gifting appreciated stock to the church has become favored by many members to meet pledge commitments or for special purposes. Members receive two tax benefits in addition to supporting our Mission: 1) a charitable tax deduction for the full market value of the securities and, 2) avoidance of capital gains tax on your appreciated shares.
How to Donate Stock to the Church
The procedure is simple. Below is a sample letter of instruction. Do not sell the securities in your account. The church will sell the stock once it is received.
Sample Letter of Instruction
To: ABC (your broker/bank),
Please accept this letter as your authorization to transfer through the DTC system ### shares of the XYZ Company from my (our) account ### at ABC (broker/bank).
Please deliver to: Vanguard Brokerage, DTC #0062, for the sub-account of the Bedford Presbyterian Church, account # 81213509.
(Please note: If the stock is held jointly, both owners must sign the letter.)
Since the church policy is to sell gifted stock “at the market” once received, please email Peter Williams to alert him of the pending transfer.