Through UMF, you can make a gift of appreciated stock to your local church for a variety of purposes including:
Giving appreciated securities (stocks and bonds), often means giving at a lower cost. It is therefore to the advantage of the local church as well as the donor to understand this procedure.
United Methodist Foundation is equipped to assist donors who want to make current gifts to their local church using securities. The Foundation can receive the securities, sell them promptly, and disburse the net proceeds to the local church. This process is simple and does not need to involve the Board of Trustees, Administrative Board/Council, or Charge Conference of the local church; yet, it provides a quick and easy way for persons to make gifts to benefit their local church.
The Foundation makes no charge to the local church for this service. A check for the net proceeds of the sale is normally received by our Foundation within one to two weeks after the sale.
If the gift stock is in the form of a stock certificate, it is often possible for the sale of the stock by the Foundation to take place without any broker commissions. If the stock is held in street name (in the donor’s account with his/her broker), the only cost will be the commissions charged by the broker. (United Methodist Foundation has accounts with a number of brokers with discounted commissions/fees which oftentimes result in a cost savings for the local church.) No charge is made by the Foundation for its assistance. As soon as the funds from the stock sale are received by the Foundation, a check is sent promptly to the local church as requested.
PLEASE NOTE: In order for this process to work, it is necessary for the donor to give the securities to United Methodist Foundation and not to the local church. The Foundation will then send the gift proceeds to the local church. The donor should always be in contact with United Methodist Foundation before the securities transfer process is begun. (Gifts to the Foundation are treated as tax deductible the same way as gifts to the local church.)
The paperwork needed depends on whether you possess the stock certificates or they are held by your broker.
If your stock is held in street name at your broker, click here.
If you hold the stock certificate, click here.
The Foundation is here to help you with your gifts. For more information, please call or e-mail Gina Schwenn, UMF Controller.
For information on churches selling
stock, click here.