Giving Appreciated Securities

This offers a great tax advantage.  You can deduct the current value of the appreciated securities and not pay federal income tax on the appreciated amount.  

How to Donate Securities (stocks, bonds, mutual funds etc.)

A great way to support the ministries of Grace is through a direct gift of securities such as stocks, bonds, mutual funds, etc. There may be significant tax savings for you. For example, if you were to sell securities having un-taxed gains, the gain is most likely taxable to you right away. Alternatively, if you donate the security directly to Grace Bible Church, you may receive a deduction for the full market value as of the date you make your donation. All of the tax liability may disappear completely and Grace, as a not-for-profit entity, then sells those securities and is not taxed on the gain.

The process for donating securities is as follows:

  1. Notify your broker/financial advisor that you wish to transfer the securities to Grace Bible Church. You will transfer IN KIND (this means you do not sell, but rather give in their current form) the securities you identify, directly from your account to the account in the name of Grace Bible Church. Specify which fund (general operating, Bigger Picture, etc.).
  2. Grace has established a brokerage account with Scottrade through which your gift will be received.
  3. Your broker’s office will want to know the following information in order to process your request:
    1. Scottrade’s DTC # is 0705 (this allows your broker to identify Scottrade on their system in order to do electronic processing)
    2. Transferring to: Grace Bible Church of Virginia Beach, Matt Breitenberg Treasurer
    3. Transfer to Our Account # with Scottrade is 358-408-47
  1. On the date of the transfer, contact Harriett at the church office to be aware of your incoming gift, as this will ensure that your tax receipt accurately reflects the value of gifted securities.
  2. After the gift is completed, Grace will sell the securities. You will see the value of the securities on your quarterly giving report.

It is that simple! Feel free to contact Harriett at the church office at 757.496.5700 if you would like assistance.