Under the current tax code (IRS Publication 526) you can donate unsold securities directly to charitable organizations. Your gift can be applied to your Annual Stewardship pledge; or you may also direct the gift to other CPC ministries. Please note that the Central OAC and Central Night Shelter are separate 501(c)3 organizations; donations should be made directly to those organizations.
The advantages of donating securities are:
o You can avoid capital gains taxes and receive a current tax deduction.
o You transfer the cost basis and unrealized tax liability on the securities to Central Presbyterian Church; CPC does not have to pay taxes on the gains when we sell the donated securities.
o You will get a tax deduction for the full market value of your gift Stock Transfer Instructions
To transfer stock to Central Presbyterian Church, please use the following information:
Transfer to: Morgan Stanley Depository Trust Company #0015
Account #: 396-105686-435
Contact: Bo Cook 404-842-2386
Please notify the Church Business Administrator David Wooten (firstname.lastname@example.org) and the Central Presbyterian Church Treasurer, Tom Holcomb (email@example.com) on the day the transfer is made by email.
When emailing, please include the stock symbol and number of shares being transferred, and the pledge year you wish the gift be attributed to.