Donating Stock

Reasons stack up for giving stock
Giving long-term appreciated stock – stock that you have held for more than one year – to charity is a smart way to give for three reasons:

1. When the market is strong, the value of your gift is higher. Simply put, you have more to give.

2. You avoid capital gains tax on stock when you gift it to charity. This is especially beneficial when the stock has experienced significant growth. In Minnesota, your capital gains tax could be as much as 30% on the appreciated value when combining federal and state taxes.

3. You also receive an income tax deduction for the full value of the donation up to 30% of your adjusted gross income. Work with your tax advisor to determine further benefits.

In these ways, a gift of appreciated stock can be more advantageous to both the donor and the benefiting charity than a simple gift of cash.

New standard deduction, new giving strategy
The new, higher standard deduction makes it harder for taxpayers to itemize. But when you make a large gift, like appreciated stock, you’re suddenly much closer to being able to itemize your deductions. This may unlock other deductions as well. When you use a donor advised fund, you can spread that large charitable gift across many organizations and over several years. This strategy is called “bunching”. There’s no need to wait until the end of the year to give charitably. With the market performing well, now might be a good time to consider a charitable gift of stock and/or using a donor advised fund to “bunch” your charitable giving. Consult a financial advisor or call the parish office for more details.

Instructions for Donating Stock to St. Joseph the Worker Catholic Church:

• If using a broker, please have your broker contact our broker to make the transaction. You may need to provide a letter stating that you are gifting the stock to the church. Please notify Mike Lentz at mike@sjtw.net or 763-400-7203 or Ann Bergmann at: ann@sjtw.net or 763-400-7206.
  Please notify the parish office as to the date of transfer, name of stock, number of shares, and how you would like the funds applied (Commitment to Parish Life, (Sunday collection), Haiti, etc) so that your gift can be recorded and acknowledged appropriately.

• If you have the stock certificate and you are not using a broker, please bring the signed certificate, along with a letter to the church stating that you wish to gift the stock to the church. We will deliver the certificate to our broker and handle the transaction from there.

 
Our Broker is Dan Fritz @ Stifel Nicolaus & Co. Inc. and he can be reached at 763-542-3731.
 
His office is located at: 5500 Wayzata Blvd, Minneapolis, MN 55416
 
Our Account Number is: #48189264
 
Our DTC Number is: #0793
 
If you or your broker have any questions, please contact Mike Lentz at 763-400-7203.
 
Thank you for your gift!

Download Instructions (PDF)