DONATING STOCK

 

Dear Parishioner:

 

For most people there are favorable tax consequences available to you for donating appreciated stock directly to Saint Luke’s.  Moving the stock directly to Saint Luke’s allows you to take a full tax deduction on the value of the stock at the time of the donation regardless of acquisition cost.  This means you can also avoid the costs of selling stock and taxes you might pay on the capital gains.  Please consult your tax advisor to ensure this works for your personal tax situation.

 

HOW TO GIVE STOCK:

 

1.     Instruct your broker to transfer the stock directly to St. Luke’s account at Morgan Stanley.  The DTC transfer information and account information the broker needs is

DTC # 0015

Morgan Stanley

Account #: 106 130782

FBO Saint Luke’s Episcopal Church

Do not sell the stock!

2.     Complete one of the attached forms.  The first form can be used in most cases.  The second form is for use when your broker requires a written authorization.

3.     FAX the form you complete to Saint Luke’s at (408) 354-4066.

 

WHAT HAPPENS:

 

1.     Your brokerage firm will send a confirmation of the transfer to you.  Keep this for your tax records.

2.     Morgan Stanley sends a stock sales confirmation to Saint Luke’s confirming the sale and the price, usually in 5-7 business days.

3.     Morgan Stanley sends a check with the proceeds to Saint Luke’s within 3 business days after the sale has cleared.

4.     Saint Luke’s sends an acknowledgement letter of your stock donation to you along with a copy of the sales confirmation statement from Morgan Stanley.   Keep these additional documents for your tax records.

 

Stewardship in this way may provide benefit to you and Saint Luke’s.  We thank you for your gifts and support.  Please contact the church office for clarification or assistance.

 

Saint Luke’s Episcopal Church

Stock Donation Instructions and Forms