Donating Securities or Mutual Funds to St. Regis

Donating Securities to St. Regis

Donors often find advantages by giving appreciated securities, mutual funds or other personal property that were purchased some time ago at a much lower value. If sold on the market, the gain on these assets would generate taxable capital gain income. By giving these assets to charity, this capital gains tax will never be assessed and you will achieve your goal of benefiting your favorite cause.

Donating Securities and Mutual Funds

Donating appreciated stock or mutual fund shares is a strategic gift-planning method. If held for more than 12 months, the donor receives an itemized deduction in the amount of the fair market value (FMV) of the shares donated as of the date of the gift. This value is deductible up to 30% of the donor’s adjusted gross income and can be carried over for up to five years after the year of the gift.

Procedure

To accomplish a gift of securities or mutual fund shares you will need to execute a DTC Transfer Form which is handled by the Diocesan office for gifts made to St. Regis or any other Diocesan charity.  The DTC Transfer form is available at the parish office or at the Dioceses office of Stewardship and Development at (816) 714-2363 or 816-714-2359.

Most securities or mutual funds are in “street name” and held by a brokerage firm. To accomplish a gift of these assets, it will be necessary to wire transfer instructions using our diocesan brokerage account. The Diocese of Kansas City-St. Joseph is designated as Catholic Diocese of Kansas City-St. Joseph, Wells Fargo Advisers Account #5328-3701, DTC #0141. Please contact Linda Maclean at (913)234-7704, Fax (913)234-7718 or linda.maclean@wellsfargo.com.

In any case, it is necessary to identify the shares to be given; the account number(s) of the Delivering Firm; the parish, ministry or school that is to benefit from the proceeds of the gift.  Security gifts to St. Regis shall be designated at: “St. John Francis Regis Catholic Church, Kansas City, Missouri”.  

Note:

When executing a gift of securities or mutual funds, it is necessary to notify:

your broker or financial adviser

the diocese’s broker listed above and

the diocese at the numbers listed above.

 

Diocese Office of Stewardship and Development Contacts

Laura Gray Director of Planned Giving; 816-714-2363 or gray@diocesekcsj.oeg

Kathy Sloss, Office Administrator; 816-714-2359 or sloss@diocesekcsj.org