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 Administrator 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 sign over to the church using the account information given below. If you have a stock certificate you wish to donate, you may wish to call Charles Shoemaker at Salomon Smith Barney. He is extremely helpful and will be sure you complete the paperwork properly.
Important
On or before the day that the stock has been transferred, please notify Jim Peterson, Church Administrator, at 408.739.1892 x315 or by e-mail at church_administrator@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
PO Box 3450
438 E. El Camino Real
Sunnyvale, CA 94087
(408) 730-0111
Broker DTC Number 0164 code 40
For Sunnyvale Presbyterian Church Account Number, contact:
Church Administrator, Jim Peterson
Phone: 408.739.1892 x315
Salomon Smith Barney
225 W. Santa Clara Street, Ste. 900
San Jose, CA 95113
(408) 947-2200
Broker DTC Number 0418
For Sunnyvale Presbyterian Church Account Number, contact:
Church Administrator, Jim Peterson
Phone: 408.739.1892 x315
Contact Person: Bill Corbin (408) 947-2254