GIVING: Donating Stock to St. James's

I. General

It would be most helpful and appreciated if you advised the Treasurer of your plans (tentative or definite) to donate stock two to three weeks prior to the actual donation. The reason for this stems from our policy to sell donated stock immediately upon its receipt. The lead time enables the Treasurer to make other arrangements for the sale if he is out of town when you make the donation.For the same reason it is very important to notify the Treasurer (or, in his absence, the church office) of the actual date of the donation when it becomes known definitively.Your contribution account will be credited as of the date the church receives the stock. (However, for those using approach III below, the date of the letter will be deemed the date of receipt if it is later than the date of delivery.) The per-share value of the gift will be determined by the average of the share's published high and low prices for the day of receipt. (It is our understanding that this value is also applicable for Federal tax purposes.) Your contribution statement will show the date the stock was received, the number of shares, the average price, and the dollar value of the gift. If you wish to know this value before a (periodical) statement is sent, call the church office or ask the Treasurer directly.

II. If your broker holds the shares

Direct your broker to wire transfer the stock. The wire transfer instructions to St. James's broker, Charles Schwab, are: DTC 0164 For credit to St. James's Church, account 8943-7455

Notify the Treasurer after you have instructed your broker to transfer the stock. (See section I above.) At the same time, advise the Treasurer how the stock value is to be applied. If the stock is to be applied to your pledge, include what should be done with any value in excess of that pledge.

III. If you hold the stock certificates

Write a letter addressed to St. James's (see sample attached) including --

  • (a) the date, preferabley the same as the date of your delivery of the stock
  • (b) the number of shares, name of the company, certificate number(s)
  • (c) a statement that St. James's Church is the recipient of the gift, and
  • (d) how the church is to apply the gift.
  • Have your signature(s) notarized.
  • To make it easiest for St. James's to sell the stock, either
  • (a) sign the back of the stock certificate exactly as your name(s) appears
  • on the face of the certificate. Do NOT fill in any of the other balnks (and also
  • don't register the stock in the church's name), OR
  • (b) sign a stock power, again, as your name(s) appears on the certificates.

Notify the Treasurer just before you deliver the stock to the church. (See section I above.)

Deliver to St. James's the letter, the stock certicicate, and, if applicable, the stock power.

Sample Letter to Accompany Delivery of Stock Certificates

Date [preferably date of delivery]

To whom it may concern:I [we] am hereby donating [99] shares of ABC Company, certificate number(s) [999990-999998], to St. James's Church, West Hartford, CT. The certificate(s) is attached.This gift is to be applied towards my [our] [annual pledge]. [If the value of the stock might exceed the pledged amount outstanding, describe how the excess is to be handled.] Sincerely, [Sign exactly as your name(s) appears on the face of the certificate(s).] [include your address]