December 6, 2014
History shows that investing in the stock market over the long term has many advantages. Many security holdings have a significant level of unrealized gain, especially this year. That is the good news. The bad news is that if these appreciated securities are sold, a significant amount of the gain could be lost to federal taxation, plus additional state taxes. If you are considering giving to Capitol Commission and/or other ministries at the end of this year, now is the time to consider the effectiveness of gifting some of your appreciated assets instead of cash or checks.
If you've owned a corporate stock for at least 12 months, and give the stock to Capitol Commission, the IRS allows you to deduct its full market value without paying any tax on the long-term capital gain. Obviously, this benefits both you and Capitol Commission. You get an additional tax deduction and Capitol Commission gets a larger gift than if you had sold the stock, paid tax on the gain, and given the remainder to Capitol Commission. And in that generous act, you get the assurance that you have made a difference in the lives of many of our nation’s leaders.
Please consider the following recent endorsement posted on GreatNonprofits.org:
“Capitol Commission is fulfilling a strategically important role of providing pastoral support to public servants who are engaged in visible and high-pressured leadership roles that are often accompanied by ethical dilemmas, physical and financial hardships and stress on families. Capitol Commission provides a context and avenue for prayer, wise counsel and encouragement for these politicians. Based on numerous firsthand testimonies I have heard, I believe investing in the ministry of Capitol Commission makes a positive difference in the lives of these men and women.”
If you transfer stock before December 31, you can claim the tax deduction on your 2014 tax return.
To make a gift of stock to Capitol Commission
Before you request a transfer, please send us an e-mail and let us know the name of the corporation (issue), the number of shares, the expected transfer date and the name and telephone number of your broker. Please do this before you request a transfer. We will call or email you to make arrangements for the transfer.
You should always check with your own tax advisor before making a gift of stock or securities.
If Your Shares Are Held In Trust By a Brokerage Firm:
The brokerage firm would transfer the shares through the clearing firm #0443-4KV-271401.
Transfer of Physical Securities
If you have stock certificates and wish to transfer the physical securities, please mail the executed certificates with the clearing firm # as the reference to:
One Pershing Plaza
Jersey City, NJ 07399
You may want to request delivery confirmation from the U.S. Postal Service or other mailing service.
For more information, please email us.
May we be reminded this Thanksgiving of God’s extravagant grace and mercy. We thank God for you and your partnership as we serve the leaders of our nation
Jim Young, President