PROCEDURES FOR MAKING A GIFT OF SECURITIES
When you make a gift of appreciated securities held more than one year, you generally receive an income tax charitable deduction for the full fair market value of the securities contributed and avoid capital gains tax consequences. Thus, the after-tax cost of giving such securities is less than making an equivalent gift of cash.
If, however, you hold securities that have declined in value relative to their cost, it is generally advisable to sell them and donate the cash proceeds. In this way, you can establish a tax loss on the securities sold and claim an income tax charitable deduction for the cash gift..
If the securities are held by your broker or at your bank:
Please inform the Executive Director, of the stock and number of shares you are donating and the approximate date the transfer will be made. Instruct your broker or bank officer to transfer the securities to:
c/o Mike Riomao
200 Park Avenue
New York, NY 10017
Account number: 852-04B64 (If wiring stock, the Deposit Trust Account Number is 8862)
If you hold a securities in certificate form, please send by registered mail or deliver by hand unendorsed certificates to:
All Souls Church
1157 Lexington Avenue
New York, NY 10075
Under separate cover, please send a stock power for each security so that ownership of the certificates may be transferred to the church.
In either case, please send a confirming letter to the church to the attention of the Executive Director. It should state the stock security you are donating, the number of shares, the approximate date of transfer, and the estimated dollar value of the donation. The letter should also specify where the donation should be allocated.