Do you own appreciated stocks? Stock gifts present a great opportunity to support Starr King’s counter-oppressive mission, because your gift is mutually beneficial — we receive the full value of the stock, while you avoid paying capital gains tax.
Starr King accepts gifts of appreciated securities like stocks, bonds and mutual funds. The process is simple.
Please notify Jessica Cloud via email – jcloud@sksm.edu – or phone – 571-438-8333 prior to initiating the gift. Contact Fidelity Investments to verify where your stock contribution should be sent and to initiate the gift. Please make sure to include the Stock Name and Number of Shares, then email this form to Jessica Cloud with the Starr King Advancement Department.
Once your stock is received, it will immediately be sold and transferred to the Starr King School of Ministry operating bank account 1251 at Chase. If your gift is designated to a specific purpose or meant for the endowment, it will be transferred accordingly after it is received.
| Brokerage Information: | |
| Name of Brokerage Firm: | Fidelity Investments |
| Phone Number: | 800-756-0128 |
| DTC Code: | 0226 |
| Account Name: | Starr King School for the Ministry |
| Account Number: | Z40415658 |
By donating stock rather than selling it, donors avoid paying a capital gains tax. A capital gains tax is a tax on the profit made from the sale of a non-inventory asset like stock. Depending on the filer’s marital status and income, the federal minimum for a capital gains tax can be as high as 20% on long-term holdings (for example, stock held for more than one year).
If they donate long-term holdings (stocks held more than one year) and itemize deductions, donors can take a charitable deduction for the stock’s fair market value on the day they give it away.
This resets the donors’ cost basis at the current, higher price and thus decreases their future capital gains difference as the stock grows in value.
By donating stock that has appreciated for more than a year, you are actually giving 20 percent more than if you sold the stock and then made a cash donation. The reason is simple: avoiding capital gains taxes.
Contact our Advancement team via email at give@sksm.edu for additional information on gifts of securities and how they can help support Starr King School for the Ministry with our mission.
This information is not intended as legal or tax advice. Consult an attorney or tax advisor.
