There are significant tax advantages in giving appreciated stock held for more than one year. The donor may take the full fair market value of the stock gift as a charitable deduction on his or her income taxes and neither the donor nor the church has to pay the long-term capital gains tax. If you are unable to take the entire tax deduction in one year you may be able to carry the excess deduction forward for up to five additional years.
Illustration between 1) selling appreciated stock first and then giving the proceeds and 2) giving appreciated stock outright:
|Sell First||Giving Stock|
|Hypothetical Cost Basis||($5,000)||($5,000)|
|Capital Gains Tax (Assuming 15%)||$1,500||$0|
|After Tax Proceeds to Church||$13,500||$15,000|
|Donor’s Charitable Deductions||$13,500||$15,000|
If you wish to donate stock to Wiregrass Ministries, Inc., please provide your broker with the information below.
- Financial Institution: Edward Jones
- Account Name: Wiregrass Ministries, Inc.
- Account #: 322-23331-1-8 DTC#: 0057
In order for us to give you proper credit for your contribution, please notify us in writing of the number of shares and the name of the stock your are transferring. You or your broker may contact Sonya Baldwin at (334) 678-6115 or [email protected] with any questions.
Thank you for your gift to Wiregrass Ministries, Inc.
Frequently Asked Questions
Q: Is it safe to give online?
Yes. In many ways giving online is safer than writing a check because an electronic gift cannot be lost or stolen. The security of the system is continually managed by Church Community Builder.
Q: What types of bank accounts can I give from?
You can give online from your checking account, MasterCard, Visa, or Discover. However, Wiregrass Church incurs the least fees when you give directly from your checking account, so if possible, please use that option.
Q: Are there any fees involved with giving online?
Not to you. You will not pay any fees with an online gift. In addition, online gifts are a more cost efficient way for the church to process donations.
Q: Can I make a one-time contribution?
Yes. The system allows you the option of either making a one-time contribution or setting up a recurring contribution. For a one-time contribution, you can designate that the contribution should be made immediately or, for both one-time and recurring contributions, you can schedule the contributions to come out of your bank account on the date(s) specified by you.
Q: If I want to set-up a recurring gift, what are my options for frequency of my gift?
For recurring gifts, you have the option of giving annually, quarterly, weekly, twice a month, every two weeks or once a month.
Q: Can I change my personal information or the amount or the frequency of my gift once I have set it up?
Yes. You can change or cancel your contribution at any time before the date of your next contribution. Simply log in to the system using your user name and password and make the necessary changes in the system.
Q: Can I review my donation history online?
Yes. The site will allow you to view the complete history of your contributions, given either online or otherwise.
Q: Will I still receive regular contribution statements from the church?
Yes. The church will continue to send year-end contribution statements to your address on file for tax purposes.
Q: When will contributions be taken from my account?
Contributions will be taken from your specified bank account within 48 business hours of the date you requested. This time frame allows time for the contribution to process through your bank and the church’s bank. If the date of your contribution falls on a weekend or a holiday, the transaction will be initiated on the next banking day.
Q: Can I designate my gift to a particular cause?
Yes, you can designate your gift to go towards our general operating fund, missions, or to pay for events such as Married Life, student activities etc.
Q: How will I know that I set up my gift correctly?
Immediately after submitting your contribution, you will receive an e-mail verifying your contribution.
Q: Does it matter which Internet browser I use?
No. Any browser should work.
Q: I have additional questions about online giving that have not been addressed. Who can I talk to?
For any questions, concerns or comments about the online giving system, please contact us at [email protected]. You will receive a response from our staff as soon as possible.
Q: What types of bank accounts can I give from?
You can give online from your bank account via an ACH transaction. You can also give using MasterCard, Visa, or Discover.
Q. Can I use a debit card?
You can use a debit check card from Visa or MasterCard, but true debit cards are not accepted through the system due to the sensitivity of securely requesting a Personal Identification Number (PIN). ACH bank drafts can be used instead for true debits.
Your information is held securely by the Church Community Builder system. This information will remain private and will never be given away to third parties, other than to process your scheduled contributions.
You can schedule new contributions at any time and can modify or cancel those contributions at any time prior to the date they are scheduled. Once the contribution has been processed, however, it cannot be cancelled. If you have any problems or questions related to this, please contact us at [email protected].