DONATING STOCK
Dear Parishioner:
For most people there are favorable tax consequences
available to you for donating appreciated stock directly to Saint LukeÕs. Moving the stock directly to Saint
LukeÕs allows you to take a full tax deduction on the value of the stock at the
time of the donation regardless of acquisition cost. This means you can also avoid the costs of selling stock and
taxes you might pay on the capital gains.
Please consult your tax advisor to ensure this works for your personal
tax situation.
HOW TO GIVE STOCK:
1.
Instruct
your broker to transfer the stock directly to St. LukeÕs
account at Morgan Stanley Dean Witter.
The DTC transfer information and account information the broker needs is
DTC # 0015
Morgan Stanley Dean Witter
Account #: 106 130782
FBO Saint LukeÕs Episcopal Church
Do not sell the stock!
2.
Complete
one of the attached forms. The
first form can be used in most cases.
The second form is for use when your broker requires a written
authorization.
3.
FAX
the form you complete to Morgan Stanley Dean Witter at (408) 947-3747.
4.
FAX
the form you complete to Saint LukeÕs at (408) 354-4066.
WHAT HAPPENS:
1.
Your
brokerage firm will send a confirmation of the transfer to you. Keep this for your tax records.
2.
The
FAX you sent to Morgan Stanley Dean Witter informs them to sell the stock
immediately after it arrives, usually in 2-3 business days. Without this notification they will not
know the stock transfer is in process.
3.
Morgan
Stanley Dean Witter sends a stock sales confirmation to Saint LukeÕs confirming
the sale and the price, usually in 5-7 business days.
4.
Morgan
Stanley Dean Witter sends a check with the proceeds to Saint LukeÕs within 3
business days after the sale has cleared.
5.
Saint
LukeÕs sends an acknowledgement letter of your stock donation to you along with
a copy of the sales confirmation statement from Morgan Stanley Dean
Witter. Keep these additional
documents for your tax records.
Stewardship in this way may provide benefit to you
and Saint LukeÕs. We thank you for
your gifts and support. Please
contact the church office for clarification or assistance.
Saint LukeÕs Episcopal Church