Securities and RMD

How to support Clemmons Presbyterian with direct donations of securities or from an IRA Required Minimum Distribution (RMD)

A gift of appreciated securities provides meaningful support for Clemmons Presbyterian Church and may offer you benefits of reduced tax liability. When you make a gift of appreciated securities, which you have held for more than 12 months, you may avoid the long-term capital gains tax and may deduct the full fair market value of the securities you give.

Benefits

Gifts of appreciated securities include stocks, bonds, or mutual fund units. The following are some ways that securities held long-term (more than 12 months) can offer potential tax savings:

  • Eliminating the capital gains tax on the appreciation that would have been due had you sold the securities on the open market and then donated the proceeds.
  • Claiming a charitable deduction against up to 30% of your adjusted gross income. Deduction amounts exceeding this limit may be carried forward over the next four years.

To achieve these benefits, your securities must be transferred to Clemmons Presbyterian Church, not sold, redeemed or exchanged. If they are sold from your account, the gift becomes a cash gift rather than a gift of securities, and you will personally realize any capital gains.

If you are considering a gift of securities that have decreased in value since purchase, it may be more advantageous for you to sell them and then claim the loss on your tax return, and then contribute the cash proceeds for a charitable deduction.

Transferring Securities Held at a Brokerage Firm

We prefer that gifts of securities be transferred electronically from your personal account at your firm to the church account at:

Cetera
DTC: 0701
Clemmons Presbyterian Church
Account #6WX19919
(Please include donor name)

Next Steps

Please let us know you intend to transfer securities by contacting us before you make the transfer.

Please fill out the form at the bottom of the page or contact the church office for a paper form.

Required Minimum Distribution from an IRA

If you are age 73 or older and are required to take a Required Minimum Distribution (RMD) from your IRA, you may be able to support Clemmons Presbyterian Church through a Qualified Charitable Distribution (QCD).

A QCD allows you to direct all or part of your RMD directly from your IRA to the church. This type of gift can satisfy your RMD requirement while potentially reducing your taxable income.

Benefits

  • Satisfies all or part of your annual RMD requirement
  • May reduce your taxable income
  • Supports the ministries and mission of Clemmons Presbyterian Church
  • Provides a simple and meaningful way to make a charitable gift

How to Make a Gift

Contact your IRA administrator and request that your distribution be sent directly to Clemmons Presbyterian Church. Be sure to notify the church office of your gift so we can properly acknowledge your contribution.

Need more help?

If you have questions, please consult your financial advisor or tax professional, or contact the church office for additional information.

 

Securities and RMD Notification Form

Name(Required)
Email(Required)
(Number of Shares)
(Company)
Please select one:

Please note: we are offering information, not financial advice, the stewardship and finance committees recommends that anyone considering a donation of this type discuss it with your financial advisor.