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 a qualified charity like UMFS.

There are several benefits to using the QCD to make your donation. Unlike a regular withdrawal from your IRA, a QCD is not counted as taxable income. A QCD could therefore help lower your tax bill. Please consult your financial or tax adviser for complete information on your personal tax implications and financial situation.

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. We therefore 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.

Prefer to Donate Cash?

If you prefer to donate cash, you can CLICK HERE to make an online donation. Or mail a check to UMFS, Attn: Development Office, 3900 West Broad Street, Richmond, VA 23230.

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