Stock that has increased in value is one of the most popular assets used for charitable giving. Donating securities can offer even more tax benefits than writing a check. With careful planning, you can reduce or possibly eliminate federal capital gains tax while supporting our work. this applies to stock you have owned for more than one year.
- You receive an immediate income tax deduction for the fair market value of the stock on the date of transfer, no matter what you originally paid for them.
- You pay no capital gains tax on the stock you donate.
- It’s easy to electronically transfer appreciated stock.
In using this planned giving technique, it is important that you donate publicly traded stocks you have owned for more than one year and that are worth more than when you first purchased them. If you have stock losses, consider selling the stock yourself and take any allowable tax deduction for your loss. Then donate the cash proceeds of the sale to the Archdiocese and take advantage of your charitable gift donation.
Securities held by your broker
Inform your broker that you wish to donate securities to the Archdiocese of Milwaukee and ask them to electronically transfer your intended shares using the information below. Please notify us about your stock gift to ensure receipt and acknowledgement.
Brokerage Firm: Robert W. Baird & Co
DTC Number: 0547
Broker: Sullivan Group
Contact Number: (414) 765-3609
Account Name: Archdiocese of Milwaukee
Archdiocese of Milwaukee Account Number: 1179-9500
Account Name: Catholic Stewardship Appeal
Catholic Stewardship Appeal Account Number: 1997-4125
Account Name: Love One Another Capital Campaign
Love One Another Capital Campaign Account Number: 6702-5068
Certificates you hold
If you hold the actual stock certificates, you must sign a stock power form for each certificate you wish to transfer to charity. You may obtain a stock power from your broker or financial institution. When you sign the stock power, be sure to sign your name precisely as it appears on the certificate. For example, if you are listed as John A. Johnson on the certificate, sign it John A. Johnson. You should never put stock certificates in the mail. Rather, personally deliver the stock certificate and the stock power forms to:
Archdiocese of Milwaukee
3501 S Lake Drive
Milwaukee, WI 53211
Mutual fund transfers usually require a longer time to transfer as each mutual fund company has its own requirements for making charitable contributions. Call Bob Pfundstein (414) 769-3583 so that he can work with you to determine the best method of transfer and to discuss your intent. The Archdiocese may need to create an account with your mutual fund company before the transfer can occur, so allow at least one month for the transfer.
Contact us for assistance.