Giving Stocks or Mutual Funds

You Can Save Taxes by Donating Stocks Instead of Cash

 If you are thinking about making a contribution to the Capital Campaign, you might want to consider making a gift of your appreciated stock or mutual fund shares rather than a cash donation because a gift of appreciated property often provides increased tax benefits.

Charitable contributions of appreciated securities provide two potential income-tax advantages. The first is a charitable deduction — generally for the fair market value of the securities at the time of the contribution, subject to certain tax law limits. The second benefit is that you are not taxed on the capital gain that would result if you sold the property.

     If you have investments that have increased in value you
           may be eligible for two tax benefits by donating:
                  * You do not pay tax on the gain

However, if you donate the stock to charity, you may claim a $20,000 charitable contribution deduction and avoid paying capital gains tax on the $5,000 of appreciation in the stock. To gain these benefits, the stock must be long-term capital gain property (stock you’ve owned for more than one year or stock you inherited).

How to donate stocks or mutual funds to the Capital Campaign:

1) To begin the process, please notify St Mark you will be transferring stock (ex – 100 shares of IBM stock):  

• Dr. Valerie Mainguy, our Director of Stewardship at (813) 907-7746 Ext. 310 or [email protected]

2) The next step is to ask your stock brokers or mutual fund company to transfer the shares to the Diocese for you.  Please have them contact Kathy King, the Senior Processing Specialist at the Diocese Office at 727-341-6841 ext. 5470 to facilitate your transfer.  

Questions? Please contact your stock broker or tax advisor for tax questions
& Valerie at at the contact info listed above for other questions.