Stocks and Securities

stock certificatesA number of you have found it convenient and tax efficient to make gifts to Unity Church of Melbourne in the form of stocks and securities.  We are so grateful to you and want to make this an easy process.

If you would like to make a gift of shares, just call to inform us of the number of shares, the date of the gift and the value so that we may properly reflect it in your tax record.

Please call Rev Beth Head at 321-254-0313, ext. 101.  Unity Church of Melbourne has a brokerage account with Merrill Lynch to facilitate your gifts.  Once you call us, then follow the easy instructions below in the “Making Your Gifts” section to facilitate the transaction.

Unity Church of Melbourne accepts gifts of cash, checks, and appreciated assets, such as securities, real estate, or personal property.  Often a gift of appreciated stock offers tax benefits to the donor.  Not only can the donor enjoy a charitable deduction for the fair market value of the stock, but there are no capital gains levied on the appreciated portion.

Stock Gift Example

You own stock that was purchased for $10,000 but is now worth $30,000.  You give the stock to Unity Church of Melbourne and receive a charitable income tax deduction for the $30,000 fair market value of the stock.  In addition, you save the capital gains tax on the $20,000 appreciation.

You should consult your accounting and tax professionals to be confident about your individual situation.  You may be able to give more than you thought possible when the tax ramifications are considered.  The benefit to Unity Church of Melbourne is the same, whether you give cash or stock, but the tax savings to you are likely to be greater if you give appreciated stock.

Making Your Gift of Stock

A. If the stock is in a brokerage account:

Contact Unity Church of Melbourne, and we will send transfer information to your broker.  Merrill Lynch will liquidate the securities and send the proceeds to Unity Church of Melbourne.

Please inform us of your gift plans: name of stock, # shares, date, your current address and contact information and the purpose of the gift if you choose to dedicate it.  You can e-mail the information or fax the information to our accounting office at 321-253-9116 or call Rev Beth at 321-254-0313, ext. 101.

B. If the gift is in the form of a stock certificate registered in your name:

Send the stock certificate plus a signed Stock Power form under separate cover. (The form is available from Merrill Lynch or your Brokerage House.) You can phone Merrill Lynch at 1-800-937-0846 to get the form.

The donor’s signature must be notarized or guaranteed by a bank officer or notary.  Mailing the Stock Power and the certificate under separate cover ensures that the stock can be transferred only with both documents.

For tax purposes, the gift is valued at the average of the high and low price on the day the shares are transferred to Unity Church of Melbourne.  Donors are advised to consult with their legal, tax and estate planning professionals when considering donations other than cash.

We are so grateful for your gifts!

Comments are closed.