Giving Appreciated Stock
You have likely seen recent reports of record highs in the stock market. When the market is strong, we see an increase in giving across the board. A 2018 report by Giving USA found that stock market values “are an indicator of financial and economic security,” and that “households and corporations are more likely to give when the stock market is up.”
Reasons stack up for giving stock
Giving long-term appreciated stock – stock that you have held for more than one year – to charity is a smart way to give for three reasons:
1. When the market is strong, the value of your gift is higher. Simply put, you have more to give.
2. You avoid capital gains tax on stock when you gift it to charity. This is especially beneficial when the stock has experienced significant growth. In Minnesota, your capital gains tax could be as much as 30% on the appreciated value when combining federal and state taxes.
3. You also receive an income tax deduction for the full value of the donation up to 30% of your adjusted gross income. Work with your tax advisor to determine further benefits.
In these ways, a gift of appreciated stock can be more advantageous to both the donor and the benefiting charity than a simple gift of cash.
New standard deduction, new giving strategy
The new, higher standard deduction makes it harder for taxpayers to itemize. But when you make a large gift, like appreciated stock, you’re suddenly much closer to being able to itemize your deductions. This may unlock other deductions as well. When you use a donor advised fund, you can spread that large charitable gift across many organizations and over several years. This strategy is called “bunching.” There’s no need to wait until the end of the year to give charitably. With the market performing well, now might be a good time to consider a charitable gift of stock and/or using a donor advised fund to “bunch” your charitable giving. Consult a financial advisor or call the parish office for more details.
Instructions for Donating Stock to St. Francis Xavier Catholic Church:
If using a broker, please have your broker contact our broker to make the transaction.St. Francis Xavier uses:
RBC Wealth Management,
1015 West St. Germain,
Suite 400, St. Cloud, MN 56301.
Call 800-939-3323 or email email@example.com.
You may need to provide a letter stating that you are gifting the stock to the church.
Please notify the parish office as to the date of transfer, name of stock, number of shares, and how you would like the funds applied so that your gift can be recorded and acknowledged appropriately.
If you have the stock certificate and you are not using a broker, please bring the signed certificate, along with a letter to the church stating that you wish to gift the stock to the church. We will deliver the certificate to our broker and handle the transaction from there.
Stewardship – Ways to Donate
Thank you for keeping parish life at St. Francis Xavier vibrant and our ministries thriving!
E-giving, Electronic donations and Envelopes
Some of our parishioners continue the tradition of using envelopes for their donations, but many are switching to electronic giving for all the right reasons – security, convenience, and consistency, Electronic giving also saves staff an enormous amount of time in the counting and managing the paper trail. Electronic giving is so much more efficient and that is WHY we are encouraging all parishioners to switch to or have their new donations made through online giving. We are excited to offer the option of electronic giving through VANCO, a trusted and secure provider for parish online donations.
To set up a new gift, either one time or recurring donations, click Create your Profile.
To modify a current recurring gift, or update credit card or bank information, please Login and update your Profile.
GivePlus App - Go to the App Store or Google Play and search for “GivePlus” to download the app for free.
To donate via text, send the dollar amount you wish to give to 844-257-8581. Include a dollar sign, for example: $50. Follow the link to register your contact and payment information. For an instructional video to see how easy it is to use these methods, go to https://www.youtube.com/watch?v=Nj7AiH6rty0
You can also choose to use envelopes. Please contact the parish office at 320-252-1363 to signup for your giving envelopes.
Thank you for being a recurring giver, you are the financial backbone of our parish! If you need to cancel your recurring gift or have any other questions please contact Tom Offerdahl, Business Manager at 320-252-1363 Ext. 1105 or firstname.lastname@example.org in the parish office.