Episcopal Diocese of Alaska
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INFORMATION ON STOCK TRANSFERS TO THE DIOCESE OF ALASKA, ITS MEMBER CONGREGATIONS, AND OTHER EPISCOPAL MINISTRIES Securities may be the best asset for you to give to support programs of the Diocese or your congregation or other Episcopal ministries, in light of certain tax advantages. If you give appreciated securities that you have held for at least one year and a day, you may be able to deduct the full fair market value (both the amount you paid and your gain), up to 30% of your adjusted gross income in the year of the gift. Any excess may be deducted over the next five years. By giving securities to the Church you avoid paying capital gains tax as well as ordinary income tax. Please consult your own tax advisor as individual circumstances vary. How to Make the Stock Transfer A letter of instruction (see sample link below) should be sent to three places: 1. Your broker 2. Diocese of Alaska brokerage firm (UBS Financial Services Inc., see address below) 3. Diocesan Planned Giving Office, 1205 Denali Way, Fairbanks Alaska 99701 The letter should indicate the church, diocesan program or purpose you wish to support. Electronic transfers are the most efficient method. However, if you have the stock certificates in your possession, please contact a broker for specific instructions as you will need to send the unendorsed stock certificates, a signed stock power (available from your broker) and a letter of authorization to our broker. If your broker holds the security for your account, instruct the broker to transfer the securities electronically to the Episcopal Diocese of Alaska, UBS account UC-17656, DTC #0221. If there are questions, have your broker contact the diocesan brokerage firm at UBS for specific details. * Account Name & Number: Episcopal Diocese of Alaska, UBS #UC-17656 * Tax ID Number 13-5562208 * DTC: #0221 * Broker for the Diocese: Michael
Meek, Kelly McPherren * Purpose of gift: Include specific instructions regarding the congregation, program, and purpose of your gift. Be aware that electronic transfers can take a week or more and certificates can take a month or more. See Sample Letter of Instruction How is the Value of Securities Established? For income tax purposes, the value of a gift is the median market value on the day the gift is made. If a security is listed on a recognized stock exchange, the median market value represents the mid-point between the high and the low of the listed stock on the day the gift is made. The date the gift is made is determined by any of the following: · When it has been hand delivered to the parish or diocese · When received by the broker or agent for the parish or diocese (not the donor’s) · The date the securities are mailed to the parish or diocese or its broker or other agent · When delivered to the parish or diocese by the donor’s broker or agent · When transferred to the parish or diocese on the books of the corporation if the donor delivers stock certificate to his/her bank or broker as the donor’s agent, or to the issuing corporation or its agent, for transfer into the name of the parish or diocese Always check with your own tax adviser when you contemplate a major gift of stock. Thank you for your gift of stock to support the Episcopal Church. For more information about including your parish or the diocese in your will or estate plans, contact the Planned Giving Office at (907) 452-3040. “Glory to God whose power, working in us, can do infinitely more than we can ask or imagine: Glory to him from generation to generation in the Church, and in Christ Jesus for ever and ever.” Ephesians 3:20,21 |
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