Donating Stock

How to Make a Stock Transfer to Wellspring


Always check with your financial advisor before making a donation of securities.  Typically, it is prudent to donate appreciated securities, because you may deduct the appreciated value (average of high and low price on the day of the trade) and avoid paying some of the capital gains tax.  (This donation would be recorded on IRS Form 8283 and attached to your Form 1040.)  If the security has decreased in value, it is generally better to sell the security and take the tax write-off yourself.  You may then wish to write a check to Wellspring to obtain the tax deduction for a charitable contribution.


Procedure:

  1. Always check with your financial advisor before making a donation of securities.  Typically, it is prudent to donate appreciated securities, because you may deduct the appreciated value (average of high and low price on the day of the trade) and avoid paying some of the capital gains tax.  (This donation would be recorded on IRS Form 8283 and attached to your Form 1040.)  If the security has decreased in value, it is generally better to sell the security and take the tax write-off yourself.  You may then wish to write a check to Wellspring to obtain the tax deduction for a charitable contribution.
  2. Notify the Director of Finance at Wellspring UMC so she will anticipate the receipt of funds from Edward Jones Investments.


Wellspring UMC POC at Edward Jones Investments

Andrew B. Cottrill, CFP, ChFC

102 W. Morrow St. #102

Georgetown TX 78626

(737)-347-0828


Wellspring UMC – Director of Finance

Gwen Guzenski

finance@wellumc.org

(512)-930-5959 – option 6