Giving By Appreciated Securities

GIVING BY APPRECIATED SECURITIES

Our leadership has prepared this instruction package for giving securities to the church. Securities can be given for Living Our Faith, a special gift for something that is of special importance to you, or any other gift to the church.

HOW TO GIVE STOCK

Giving stock to the church is easy and straightforward. The two common methods for giving stock are shown below. If you use either of these methods, please use the instructions and suggested forms. Otherwise, please contact our church Finance Manager.

How is the value of my stock gift determined? The value of your gift is the average of the high and low prices for the stock on the date of gift. The process for determining the date of gift is described in the link above that is applicable to your gift. The date of gift is important because it determines the date of valuation. You should consult your tax advisor about tax questions and advice for your specific situation.

What acknowledgement will I receive from the church? You will receive a letter from the church acknowledging your gift. Enclosed with that letter will be a Statement of Gift, which will record the specifics of your gift, including the value.

What about giving appreciated mutual funds or other securities? The gift of appreciated mutual-fund shares, bonds, or other securities can result in tax benefits that are similar to the gift of appreciated stock. If you are considering a gift of mutual funds or other securities, please contact our church Finance Manager, to discuss the procedures for your mutual fund or for your particular security.

Where can I get more help? Contact our Finance Manager through the church office at 732.747.1348.

WHEN THE STOCK IS HELD BY YOUR BROKER

1 – First, contact your broker and specify both the stock you want to give to First Presbyterian Church at Red Bank, NJ and the required information about the church’s brokerage account. A form letter, obtained by clicking here, contains the information about the church’s brokerage account. You may download and complete this form letter or you may write your own letter giving the same information. The stock will then be electronically transferred to the church’s brokerage account.

Account Name:  First Presbyterian Church at Red Bank
255 Harding Road, Red Bank, NJ  07701
Church Brokerage Firm:  Charles Schwab & Co.
DTC Number:  0164
Church Account Number:  2630-5900

2 – Second, prepare a gift letter to the church describing your gift and the purpose of your gift. This is very important so the church can correctly identify your gift when it is electronically transferred and so the church can know the purpose of your gift. You may download and complete the form letter for this purpose by clicking here or you may write your own letter giving the same information. Your gift letter should be emailed to our Finance Manager or mailed to:

First Presbyterian Church at Red Bank
Attn: Finance Manager
255 Harding Road
Red Bank, NJ 07701

How is the date of my gift determined? The date of gift is the date when the stock is actually transferred into the church’s account at the church’s brokerage firm Charles Schwab & Co. It is important to note that simply giving your broker transfer instructions will not fix the gift date until the stock is actually put into the church’s account. When timing is critical, stay in touch with your broker to ensure that the transfer occurs on the date that you desire.

WHEN THE STOCK CERTIFICATE IS IN YOUR NAME AND POSSESSION

Prepare a gift letter describing your gift and the purpose of your gift. You may download a sample letter by clicking here or you may write your own letter giving the same information. The gift letter should be addressed to:

First Presbyterian Church at Red Bank
Attn: Finance Manager
255 Harding Road
Red Bank, NJ 07701

  • Do not endorse the certificates. Bring the gift letter and the stock certificates to our church Finance Manager (732.747.1348) or mail the gift letter and the unendorsed certificates by first class or registered mail to the address above.
  • Sign a stock power for each certificate (you can obtain a blank stock power from your broker, banker, or our Church Finance Manager) and have the signature guaranteed by your brokerage firm or banker, but do not fill in anything else. If using mail, send the stock powers, together with a copy of the gift letter in a separate envelope from the certificates to the same church address.

How is the value of my gift determined? The date of gift is the date when both the certificate and the properly executed stock powers are delivered to the church, or the postmark date if you use the mail. If you use the recommended mail method of sending the certificate and the stock power in separate envelopes, the latest postmark will determine the effective date of transfer, and thus be the date of gift.

CONTACT US

255 Harding Road
Red Bank, NJ 07701
732.747.1348

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