Donating stock to Catholic Charities is easy to do, and may result in tax savings for you. Gifts of appreciated securities held for over a year are generally deductible at market value and are exempt from capital gains tax. For example, if you bought stock years ago for $1,000 and it is now worth $10,000, giving that stock to us would result in a charitable deduction of $10,000. You would also avoid paying capital gains tax on the $9,000 of appreciation.
If your broker holds the shares
If your securities are in a brokerage account, ask your broker to electronically transfer the shares to Catholic Charities. Your broker will need the following information:
- DTC #0010.
- Credit to account #243-701-0 Catholic Charities of Chicago. Our account is held at Brown Brothers Harriman.
- The name of the stock and the number of shares you want to transfer.
See a sample letter to your broker. You should not allow your broker to sell the stock and send us a check. If your broker does this, the tax advantages of donating stock may be eliminated.
You or your broker may contact Margaret Hughes, Annual Fund Director at Catholic Charities, with any questions. If your broker prefers to deal directly with our broker, he is David M. Butts at Brown Brothers Harriman & Co, (312) 781-7124.
So that we can properly credit your gift, please notify Margaret Hughes that you are making a stock gift. Tell her the name of the stock, the number of shares and the transferring broker. Let her know if your gift is for a particular program or campaign. You will receive a written gift receipt from Catholic Charities. The gift date is the date that our account received the transferred shares. The gift value is based on the average price of the stock on the gift date.
If you hold the stock certificate and it is issued in your name
The easiest way is to hand-deliver the certificate to us. Please assign the stock to Catholic Charities of the Archdiocese of Chicago by completing the assignment section on the reverse side of the certificate. Your signature must be guaranteed by an eligible guarantor institution, such as your bank or brokerage house. Once properly signed, the certificate is negotiable. Deliver it to Catholic Charities, Development Department, 721 North LaSalle, Chicago, IL 60654. The gift date is the delivery date. Please call Margaret Hughes at (312) 655-7012 for a different procedure to follow if you prefer to mail the certificate, or if you would like us to pick it up from you.
Margaret Hughes, Annual Fund Director
Catholic Charities of the Archdiocese of Chicago
721 North LaSalle
Chicago, IL 60654
Phone (312) 655-7012
Fax (312) 655-0605