Donating Stock to St. John’s
Thank you for considering the donation of stock to St. John’s. Please follow the procedure outlined below, and contact the financial administrator with any questions.
- Advise the financial administrator of your plans (tentative or definite) to donate stock two to three weeks before the actual donation. Our policy is to sell donated stock immediately upon receipt, so we need to know of your plans ahead of time to make arrangements to do so, in case the financial administrator will be out of the office when your donation arrives.
- When you know the definite date that the stock will be donated, please inform the financial administrator (or, in her/his absence, the parish manager).
- Direct your broker to use our clearing account with Charles Schwab, DTC 0164, for credit to St. John’s Church, account 4661-8648.
- Please notify the financial administrator after you have instructed your broker to transfer the stock. At the same time, advise the financial administrator how the stock value is to be applied (e.g., to your pledge, as a general gift, to a special offering, etc.). If the stock is to be applied to your pledge, include what should be done with any value in excess of that pledge.
- Your parish account will be credited as of the date the church receives the stock. The per-share value of the gift will be determined by the average of the shares’ published high and low prices for the day of receipt. (It is our understanding that this value is also applicable for Federal tax purposes.)
- Your contribution receipt letter at the time of the transfer will show the stock name, the date it was received, and the number of shares.
- Your broker will need to fill out a charitable donation form when transferring the stock.They will also need send you a charitable donation statement at the end of the year for tax purposes.