In light of certain tax advantages, Stock may be the best asset for you to give to Sovereign Grace Church.
Why Gift Stock?
If you give appreciated stock that you have held for at least one year and a day, you can deduct the full, fair market value. By giving appreciated stock to Sovereign Grace Church, you avoid paying capital gains tax as well as ordinary income tax, and Sovereign Grace Church can sell the stock tax-free.
How to Gift Stock
If you would like to gift stock to Sovereign Grace Church, we can receive an electronic transfer as follows:
- Contact your financial institution or brokerage firm and inform them that you wish to give a stock gift to your church. They will most likely ask you to submit the request in writing.
- Direct your broker to transfer the shares of stock to the Sovereign Grace Church account at TD Ameritrade: Account Number: 492988697 DTC Number: 0188
- Contact the church office by email with the following information:
- Date you initiated the stock transfer with your broker
- Name of stock you will be transferring
- Number of shares of stock you will be transferring
- Which fund you would like your gift credited to (General Operations, Adoption, Benevolence, Pastoral Training/Church Planting).
It is important to communicate with us because Sovereign Grace Church will receive a record of the stock receipt and sale, but the record will not state your (the donor’s) name. Sovereign Grace Church will need to know that you donated the stock in order to issue a letter for tax purposes.
Donation Receipt Information
After receipt of your stock gift, Sovereign Grace Church will send a written acknowledgement of the stock gift received (name of stock, shares given, and date). This written acknowledgement can be used as documentation for tax purposes.
- Since stock is a non-cash donation, the IRS does not allow churches to state the amount the stock was worth. Please talk with your stock broker or tax professional to determine the valuation of your gift.
- Please plan carefully for year end gifts. Year end gifts must be received into the Sovereign Grace Church brokerage account by the end of the business day on the last business day of the year. The date of the gift is determined by the day it is received on our account, not on the day you contact your broker with instructions to transfer the stock.