Donating Stock
Contributing to the church through transfers of stock may provide you with two tax advantages. As with any donation, you may be able to take a charitable deduction for the value of the stock on the day you donate it. In addition, if the stock has appreciated in value, you may not need to report the increase in value as capital gains income provided you donate the stock directly to the church rather than sell it and donate the proceeds. Of course you will need to consult your own tax advisor for the applicability of these advantages to your own situation.
Transferring stock to the church
The church has accounts with the stockbrokers listed below. Please note that stock that is gifted to the church is sold immediately when the church receives it. The value of the donation is taken as the midpoint of the high and low prices of the stock on the day that it transfers into the church’s account. The Church Comptroller will calculate this for you and provide you with appropriate documentation of the value of the donation.
Stock may be transferred into the church account either electronically or by certificate.
Electronic Transfer
A donor may have stock transferred electronically by giving their broker the information below.
Stock Certificate Transfer
A donor may give stock certificates by taking the certificates to the broker and signing over to the church using the account information given below.
Important
On or before the day that the stock has been transferred, please notify Tavie Armfield, Church Comptroller, at 650-948-3710 or by e-mail at comptroller@svpc.us.
Indicate:
- The broker the stock transferred to
- The name of the stock
- How many shares were transferred
- And what you want the proceeds to be used for (e.g., for your pledge, or for some other recognized purpose)
You will receive a letter from the church acknowledging your gift. This letter may be needed when filing your taxes.
Charles Schwab
438 E. El Camino Real
Sunnyvale, CA 94087
Phone: 408-522-3030
Broker DTC #0164
For Sunnyvale Presbyterian Church Account Number, contact:
Church Comptroller, Tavie Armfield
Phone: 650-948-3710
Morgan Stanley Smith Barney
225 W. Santa Clara Street, Suite 900
San Jose, CA 95113
Phone: 408-947-2200
Contact Person: Bill Corbin
Phone: 408-947-2254
Broker DTC #0418
For Sunnyvale Presbyterian Church Account Number, contact:
Church Comptroller, Tavie Armfield
Phone: 650-948-3710