Giving Stock, Bonds, Mutual Fund shares, and Other Appreciated Securities
Publicly traded securities held for more than one year – such as stocks, bonds, exchange-traded funds (ETFs), and mutual funds – can be easily transferred to Paraclete in a broker-to-broker transaction. When you make this direct donation – instead of selling the asset and then giving the proceeds – you are entitled to take an income-tax deduction for the fair market value of the stock as of the date of transfer. In addition, you potentially avoid the requirement of paying the capital gains tax that would have been owed if you sold the assets yourself.
Prior to making a donation of appreciated non-cash assets, consult with your tax or legal advisor.
Follow these steps:
- Instruct your broker/investment firm to transfer “x” number of shares of “ABC Corporation” (or mutual fund or ETF) to the Paraclete account at Charles Schwab:
DTC 0164
Code 40
Account Number 6908-1465 - Initiate the process by Dec. 1 to allow for transaction processing time at the end of the calendar year.
- Connect with us and indicate the number of donated shares, type of shares and the “preference” or intended designation (the ministry of a specific Paraclete associate, a project, or the Paraclete Mission Fund).
- After Paraclete’s broker has transferred the donated shares, you will receive a receipt for the number and type of shares given. (We generally sell securities quickly.)
Contact links to some popular brokerage firms:
(For informational purposes only. Paraclete does not endorse any brokerage firm.)
Ally
Charles Schwab
Edward Jones
E-Trade
Fidelity
Fisher
Merrill Lynch / BOA
Morgan Stanley
Pershing
TD Ameritrade
Vanguard
Wells Fargo