Giving Securities

To First Parish of Westwood

 

Your Gift of Securities to First Parish

Gifts of appreciated stock or mutual funds are among the most advantageous forms of philanthropic giving.  Making a gift of securities is simple and offers a number of important benefits.

 

Your gift of securities can go towards fulfilling your annual pledge to the church or for any other church gifting purpose. 

 

What is the Advantage of Donating Stock vs Cash?

·        You get a federal income tax charitable deduction if you file an itemized return.

·        You can deduct for the securities’ full fair market value if shares have been held 12 months or longer.

·        Capital gains tax is eliminated.

 

If you hold securities that have declined in value, it is generally advisable to sell them and then donate the cash proceeds to First Parish.  In this way, you can establish a tax loss and claim an income tax charitable deduction for the cash gift.

 

Example:  Suppose your 30 shares of XYZ Corporation stock have increased substantially in value.  After consulting your tax advisor, you decide to donate your XYZ shares to First Parish.  Suppose you originally bought the stock for $300 and it is now worth $1,000.  By giving it to First Parish, you pay no capital gains on the $700 appreciation of the stock.  At the same time, for tax purposes, you deduct the full $1,000 value of the donated stock.  You do not have to declare the appreciation or pay taxes on this. 

 

Effective Date of Your Gift

A gift of securities is considered complete on the date that the securities irrevocably leave your control.  If the securities are transferred electronically, the gift is the date on which the securities are moved out of your account.  If you hand over or mail the securities, the gift date is the date of the postmark.

 

Making Your Gift to First Parish is Easy!

 

If you hold your securities at a firm or brokerage account:

Instruct the institution where the securities are held to transfer the shares to First Parish.  Then have them (or you can) contact Gary Shaw of RBC Dain Rauscher (800-555-1930) to alert him that the shares are coming.

 

Here are the required “DTC Delivery Instructions”:

 

                Transfer to:

    RBC Dain Rauscher
    Deliver to DTC Clearing #0235
    Further credit to:
    First Parish of Westwood, United Church
    #1101-1419-5722 (gift account)

Your institution may require a written letter of authorization such as:

 

(Current Date)

 

To Whom It May Concern:

I wish to make a donation of the following securities to First Parish from my account

 # _____________ .the  __________ shares of ___________________ stock.

 

Please transfer the shares as follows:

 

RBC Dain Rauscher
Deliver to DTC Clearing #0235
Further credit to:
First Parish of Westwood, United Church
#1101-1419-5722 (gift account)

Thank you for your attention in this matter.  Please call me with any questions or problems.

 

                                                                                                Sincerely,

                                                                                                (Your Name)

 

 

 

If certificates / shares are in your physical possession, contact the First Parish Treasurer for special instructions.

 

 

For further information, contact the office at First Parish at 781-326-5344, the church Treasurer, or a member of the Stewardship Committee. 

                                                                                                                                               

 

 

                                                                                                                                                3/07 DKH