By donating appreciated stock to Dunwoody United Methodist Church, the donor is able to receive a tax deduction for the fair market value at the time of the donation without having to pay capital gains tax on the increase in the value of the stock. There are two ways you may transfer stock to Dunwoody United Methodist Church.
Bring the certificate to the Finance Office during normal business hours. While here you will be asked to endorse the certificate over to the church and copies will be given to you for your records.
You can have your broker wire a specified amount of stock from your brokerage account into the church's brokerage account at Wells Fargo Securities Bank Brokerage Unit. Please click here to view and print a copy of the Letter of Authorization required to complete your transaction. Once you have completed the form please send the original to your broker and fax copies to the church (Fax: 770.394.8492) and Wells Fargo Securities (Fax: 888-553-6103). Once the stock has been received in our account, it is sold and valued as outlined below.
To insure timely and correct posting of your donation please call Jenny Carter in the Finance Office (770.394.0675 ext. 188) and inform her of the details of the transfer and how the funds should be applied.
The church sells stock donations immediately upon receipt and the proceeds, net of broker's commissions, are then credited to accounts as you have directed.
Once the net proceeds of the sale have been received, the church will send an acknowledgement letter stating the type of stock received, the date of receipt and other necessary information. This is your receipt for any tax deductions that may be available. The amount of deduction available for a donation of stock is usually the fair market value on the date of donation.
You should consult your broker and tax advisor for further information and advice on the amount of deduction available in your particular situation.