Would you like to make a donation of stock? The church has an account at Fidelity solely for this purpose. Please follow the steps below:
Contact the Church Treasurer to obtain the Fidelity account number.
- Please allow for market fluctuations when selecting the amount of stock to be transferred if you are satisfying a pledge commitment.
- Give the SUMC Fidelity account number to your Broker and have the Broker transfer your stock into the SUMC’s account at Fidelity.
- Notify the treasurer when the transfer has been completed.
After your donation of securities is completed, the following will happen:
- The treasurer will instruct Fidelity to sell the stock immediately.
- The proceeds will be transferred by the SUMC Treasurer to the correct account (Operating account; Capital Campaign account; Endowment, etc.) at SUMC.
- The proceeds of the sale will be credited to your SUMC statement for tax purposes.
- When you give appreciated stock directly to SUMC, you do not pay additional capital gains tax.