Give Stocks or Mutual Funds


GIVING APPRECIATED ASSETS

Did you know that Parkway Baptist Church accepts donation of appreciated assets such as stocks and mutual funds?

Gifting appreciated assets that have been held for more than one year could result in a two-fold tax benefit to the donor.* First, the donor avoids paying capital gains tax on the appreciated asset. Second, the donor is eligible for a tax deduction from his/her income taxes.

The church also benefits because it is not subject to capital gains tax, either, and has access to the full cash value of the stock donation.

Here is a hypothetical example: You purchased stock for $1,000 several years ago and it is now valued at $10,000. Rather than selling the stock and paying tax on the $9,000 gain, you can donate the stock directly to Parkway Baptist Church and avoid paying capital gains tax on the $9,000. You would also be eligible for a charitable tax deduction for the full value of $10,000.

*It is advised to always consult with a tax professional or financial advisor for clarity on tax implications for your individual financial situation. The IRS has various deductibility limits that should be understood. 

HOW TO DONATE

STEP ONE

Initiate the transfer with your broker/account holder. Ask that your securities be delivered electronically to:

  • Account Name: Parkway Baptist Church
  • DTC Number: 0164
  • Custodian: Charles Schwab
  • Account Number: 7773-1830

 

STEP TWO

Notify the Financial Director at Parkway Baptist Church of the transfer date, number of shares, and security name. Upon receipt, the church will immediately sell the securities and transfer the cash generated to the fund/s you have designated. If no fund/s is/are designated, the cash value will be transferred into the general operating fund for the year. You will receive a Donation Receipt letter from the Financial Director at Parkway within 30 days of receipt. 

 NOTIFY FINANCIAL DIRECTOR