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Stock/Security Transfers
The gifting of securities is a “win-win” situation for the donor and the church. Since Highview Baptist Church (HBC) is a 501(c)(3) non-profit organization, the gift of securities will qualify as a charitable contribution and is tax deductible. Typically when you sell stock you would incur a capital gain tax. A better strategy might be to gift the stock or securities directly to HBC so that you do not incur the tax on the capital gain but the church gets the full value of the asset for ministry purposes. Transferring stock to the church is a very simple process that can be coordinated through the Financial Office or you can follow these three easy steps:
- You will initiate the stock donation by contacting your broker to let them know exactly which stocks you would like to transfer to Highview Baptist Church using the church’s JP Morgan investment account.
- Your broker will need a few pieces of information so that they can handle the transfer for you. They will need:
- Highview’s JP Morgan account #: Please contact Chip Evans.
- JP Morgan’s DTC #: Please contact Chip Evans.
- Please email Chip Evans at cevans@highview.org when you are transferring stock. In the email, please provide the name of the stock and number of shares. This is important so that the church can provide you with a gift letter for tax purposes. Without your email we have no way of knowing who gifted the stock to the church. The value of your gift will be the stock price on the day of the transfer.
On all tax questions, it is advisable to consult with your tax advisor or CPA.
Property Transfers
You will receive giving credit for any type of property you wish to donate to Highview including but not limited to real property, cars, houses, etc.
For questions regarding donating property please email Chip Evans at cevans@highview.org or call the church office at 502.239.7711.