Gifts of Stock or Appreciated Securities
Giving shares of appreciated stock, bonds, mutual funds, and other securities is an especially tax-wise way to make a gift to Alpha Ministries Inc.
If you have held securities for more than one year that have increased in value since the acquisition, you will receive a charitable tax deduction equal to the current value. This allows you to avoid paying capital gains tax you would owe on the gain in value if you sold the securities.
Gifts of securities are deductible for federal tax purposes up to a limit of 30 percent of your adjusted gross income.
For additional information about giving securities, please contact Kelly Urbani, Missions Assistant, at firstname.lastname@example.org or call 434-929-2500
How to Make a Gift of Stock
To give stock that is held by your broker or commercial banker:
- Contact us first at 434-929-2500 so that we may ensure that your gift is handled to your specification and you receive proper credit and acknowledgement for it.
- Notify your broker or commercial banker that you are giving securities to Alpha Ministries Inc.
- The stock should be transferred into the account listed below.
VERY IMPORTANT: We sometimes receive notification that gifts of stock or mutual funds have come into our account, but are unable to determine whom the donor is, or how he or she would like the proceeds to be used within our ministry.
To avoid this problem, on the day of the transfer, please contact Alpha Ministries to let us know:
- the name of the stock
- the number of shares
- the date of the transfer, and
- your preference for how the proceeds from the sale of the stock should be used (native missionary support, Grace Children’s Home, Bible in a Backpack, Alpha Bible Training, where most needed, etc.)
- If you have the stock certificate in hand, you should: Endorse the back of the certificate appointing Bank of America/Merrill Lynch, John Hoskins to transfer the certificate. Leave BLANK the line regarding to whom the certificate is being transferred.
- Sign the back of the certificate exactly as the name(s) appear on the front.
- Write a letter indicating that you wish to donate ___ (number of shares) of _________ (name of stock) to Alpha Ministries’ account #
Mail the certificate and letter to the Bank of America/Merrill Lynch address above, Attn: John Hoskins
After we receive the gift of stock or mutual fund shares, Alpha Ministries will immediately liquidate the shares and send you a Gift-in-Kind receipt. This receipt lists the name of the stock or mutual fund, the number of shares, the date they were received into our account, and that no goods or services were received by you in exchange for the gift. IRS regulations do not allow us to state the value of the shares on the receipt. Since the value of stocks and mutual funds fluctuate so quickly, the fair market value of your gift is the average price of the stock or mutual fund on the day it was received into our account multiplied by the number of shares donated.
For more information:
If you have any questions or wish to start the process for your gift, please fill out the contact form, email email@example.com or call 434-929-2500
This web page is designed to provide information and illustration of the subject matters covered. It is not intended, nor should it be used as legal, accounting or other professional advice. It is always a good idea to seek legal and tax advice from your professional advisor(s).