Gifts of Stock and Securities
Every gift given to help support Episcopal Charities mission is deeply appreciated and used to bring a message of hope to thousands of women, men, children, and families across northern Illinois every year. When you make your gift to ECCS using appreciated securities, however, you enjoy significant tax advantages while helping advance this ministry.
Tax Advantages
You can realize these significant tax advantages when you use appreciated securities to make your next gift to Episcopal Charities and Community Services:
- No capital gains taxes are payable if the property has been owned by you for more than one year
- You receive an immediate income tax deduction for the fair-market value of the securities on the date of donation (regardless of what you paid to buy those securities).
How Your Gift Is Valued
The value of your gift is the fair-market value on the date the stock is transferred to Episcopal Charities and Community Services. The value is determined according to IRS guidelines by taking the average of the high and the low trading price on the date of the transfer.
How To Transfer Stock to Episcopal Charities
The preferred method for making a gift using securities/stock is to ask your broker to transfer the stock directly to Episcopal Charities’ account at Smith Barney. You will need to provide your broker with this information:
DTC# 0418
Acct. # 383-35063-18-816
Acct. Name: Episcopal Charities and Community Services
Contact Name at Smith Barney: Joe Kartheiser
Contact Phone at Smith Barney: (312) 419-3337
By Mail
Send the unendorsed stock certificate(s) by registered mail to Episcopal Charities and Community Services, 65 E. Huron, Chicago, Illinois, 60611. Enclose a transmittal letter with your name, address, and a clear statement of your intention to make this gift to ECCS. Then, under separate cover to the same address, send a signed stock power form which is available by contacting our Development Office: (312) 751-3574.
Frequently Asked Questions
Q. I am considering making a significant gift of appreciated stock. Can I still deduct the entire amount this year?
A. The full fair-market value of gifts of long-term appreciated property is deductible up to 30% of a donor’s adjusted gross income (AGI). Any amount over 30% of AGI can be carried forward up to five years.
Q. Are there special considerations if I make a gift using securities that have declined in value?
A. It may be more advantageous to you to sell these securities first, declare an investment loss for income tax purposes, and then donate the proceeds to ECCS. As always, consult with a tax advisor for answers that take into consideration your personal circumstances.
Q. Can I make a gift to Episcopal Charities using mutual fund shares?
A. Yes, but please contact our Development Office regarding the gift of mutual fund shares because there are additional procedures required to complete this gift.