Gifts of Securities & IRA

Gifts of Securities

When you donate appreciated securities that were purchased over a year ago, you receive several benefits. In addition to the standard tax deduction for making a charitable donation, you may also avoid the capital gains tax.

Gifts from Your IRA

Once you reach age 70½, you must start taking the RMD (Required Minimum Distribution) from your IRA account. Instead of taking the full RMD yourself, you can make a QCD (Qualified Charitable Distribution) to UMFS, which may be tax free.

Transferring Your Securities to UMFS

You can transfer stocks, mutual funds, and bonds to UMFS through your broker. They will need the following information to complete the transaction:

  • DTC Participant #2039
  • FFC Sun Trust Bank account #11188
  • Institutional ID #57672 (Sun Trust Bank)
  • Account name: United Methodist Family TSW
  • Account #7040715

Please notify us

While most brokers share your name with us when they transfer securities, some do not. We want to thank you for your gift and provide you an appropriate tax receipt. Therefore, we encourage you to notify us when you initiate a securities transfer at 804.254.9450 or development@umfs.org .

Please consult your financial or tax adviser for complete information on your personal tax implications and financial situation.

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