One of the most tax effective ways to dispose of appreciated stock is by donating it directly to St. Francis of Assisi. You can deduct the current market value of the stock as a charitable contribution without paying income tax on the gain, as you would if you sold the stock yourself. Make sure that the current stock price exceeds your cost basis, otherwise you would be missing out on a capital loss deduction. For more information, please contact your tax advisor.
Donating appreciated stock is simple; just provide your stock broker with the following transfer instructions:
Parish Account: Paine Webber
Account No. SJ-31601 BG (under the name “The Roman Catholic Bishop of San Jose”)
Parish Broker: UBS Financial Services Inc., Attn: Debbie Mazzulla
50 W. San Fernando Street, San Jose, CA 95113-2334
Phone: 408-286-5500 or Direct Line: 408-282-8411, Email: Debbie.Mazzulla@UBS.com
If you have any questions, or would like to make arrangements for a donation, please contact our Business Manager, Christina Simpkins at 408-223-1770 X306 or CSimpkins@sfoasj.org
The parish office will be closed from December 23 through January 1, for the Holidays. Emails and messages to Christina regarding your stock donation will be returned within 24 hours.