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. Please specify the following contribution account(s): ministry, building, missions, adoption/foster care, Celebrate Recovery, community care, or any special offering active at the time as determined by the church leadership.

2. Grace has established a brokerage account with TDAmeritrade through which your gift will be received. Your broker’s office will want to know the following information in order to process your request:

  1. TDAmeritrade’s DTC # is 0188 (this allows your broker to identify Ameritrade 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 TDAmeritrade is 423-479-048

3. On the date of the transfer, contact Leigh Lazos at the church office to inform her of your incoming gift, as this will ensure that your tax receipt accurately reflects the value of gifted securities.

4. After the gift is completed, Grace will sell the securities. You will see the value of the securities on your quarterly giving report.  NOTE:  FOR TAX PURPOSES, you should deduct the value of the securities on the day you make the donation gift.  This may differ from the amount on your GBC Giving Statement.

 

  1. Feel free to contact the church's financial office at 757-496-5700, ext 107 if you would like assistance.