Covenant Presbyterian Church - Charlotte, North Carolina

If you own appreciated stock, it is almost always more tax-wise to contribute stock than cash. First, you avoid paying any capital gains tax on the increase in the value of the stock. Second, you receive a charitable deduction for the full market value of the stock at the time of the gift.

Appreciated Securities Make a Great Gift to Your Church

Many of our members have found that giving appreciated stock to the church makes very good sense. Please ask your financial advisor if this is a viable option for you.

We need your help when you give securities to the church. First and foremost, please notify the office personally (by phone, letter or email) when you transfer stock to the church. Do not rely on your broker to do so. In some recent cases, we were not aware of stock transfers for an extended period of time, resulting in stocks not being sold in a timely manner. Covenant's Finance Committee policy is that all gifted securities will be sold immediately and the proceeds promptly deposited into the church bank account.

A reminder: you can accelerate your tax deduction and, at the same time, help your church significantly by giving stock before year-end in payment of your pledge for next year. The church will earn interest on the deposited funds and will be able to use your contribution for next year's operating expenses. You, of course, get to take credit for the gift against any tax liability for this year.

To give stock to Covenant Presbyterian Church:

1. Notify your broker to transfer X number of shares of stock to Covenant Presbyterian Church's account at either of the brokerage firms listed below.

2. Call the church business office and notify Virginia Rumbley or Bill Keith that the gift is coming, the date the transfer will be made to the church, and to what specific pledge(s) or purpose(s) you want the gift credited.

It is that simple. It works. We invite you to try it. Tell your friends!

Covenant has accounts at the following brokerage firms to facilitate the transfer and sale of stock gifts to the church. Below is the contact information for these firms.

Wells Fargo Advisors LLC (call the church office for gifting instructions)
Winget Benton Wealth Management Group of Wells Fargo Advisors
704-343-4519
800-929-0720
704.343.4520 fax

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Wells Fargo Advisors LLC (call the church office for gifting instructions)
The Granzow Consulting Group of Wells Fargo Advisors
6000 Fairview Road Ste 800
Charlotte, NC 28210
704-442-6306
704.554.1426 fax
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704.442.6308