DONATING STOCKS OR SECURITIES TO Beacon Unitarian Universalist Congregation in Summit
Thank you for your generous support of Beacon. We greatly appreciate receiving stocks, shares, or securities. In this document, you can find details on how to make a donation.
What can I donate?
At any time, you can donate stocks, etf’s, bonds or mutual funds to the church. These donations can go towards to fulfilling existing promised contributions or as a general gift to the Operating, Building, or Endowment Funds. Like cash or check donations, these security donations are usually tax deductible.
What do I have to do?
First, decide what you want to donate, and how much.
If you want to donate securities, shares, or stock, email Executive Director, Tuli Patel (tuli@summitbeacon.org) and our bookkeeper (accounting@summitbeacon.org). Or if you prefer, call one of them at 908-273-3245.
Indicate the name of the share or stock, the ticker symbol and number you will be donating.
Please also tell Tuli the specific purpose of the donation and the approximate donation date. An example might be, “I am donating 3 Apple shares, ticker symbol AAPL to be applied to my annual contribution for 2021-2022.”
After the congregation receives the donation, you will be credited with the average of the high and the low of the stock value of the day on which the donation was received. You will receive email confirmation and your generous support will be reflected in your giving statement.
What should I tell my broker?
Contact your broker and indicate that you want to transfer securities, shares or stock to The Unitarian Church in Summit. The broker will initiate the transfer by directing you to complete a form or forms. If the transferred securities are held jointly, be sure to have both owners execute the required forms.
The church has a brokerage account with Vanguard. If your broker is a Vanguard broker, tell him or her it to do an “in house” transfer to the corresponding account shown below:
The Vanguard Group – account #14230326 / electronic transfer #DTC 0062
If your broker is with another company (TD Ameritrade, Fidelity, Franklin Templeton etc), please inform them that the shares are to be transferred to the Vanguard brokerage account.
My shares and securities are held with a mutual fund company. What do I do?
Contact the mutual fund company and indicate that you want to transfer securities to The Unitarian Church in Summit. The mutual fund company will initiate the transfer by directing you to complete a form or forms. If the transferred securities are held jointly, be sure to have both owners execute the required forms. Indicate transfer to The Vanguard Group as shown above.
I have mutual funds but don’t have a broker. What do I do?
Write or call the mutual fund company, telling them your name, account number, and that you want to transfer shares to The Unitarian Church in Summit. State which fund your gift should be taken from and how much (in shares or dollar amount) you want to give. Specify that the church will sell them upon receipt. The next steps vary by fund company; yours should tell you what needs to be done. For example, the Church might have to open an account with your fund company too, which may require official signatures or a Board resolution. Consult with the Treasurer or other members of the Finance Committee about how to follow the fund company’s instructions. Keep records and keep the church informed.
I’m all done. Now what?
Thank you for your support! In the coming weeks, you will receive an acknowledgement with details about your contribution. If there is an error, or anything is not as you might expect, please contact Tuli.
Thanking you for your generous support.