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Can I Give My Stock to My Church?

Article Type: Ask a Planner

Q: Can I give my stock to my church?

A: If you have stock you’ve owned for at least a year, and it has increased in value, this is much more cost effective than giving cash. You’ll receive a tax deduction for the fair market value and avoid paying capital gains. If, however, the current value of your stock is less than what you paid for it, you’re better off selling the stock, recognizing the loss on your income taxes and making a cash gift to charity with the proceeds.

Q: What's the simplest way to give stock?

A: Through the Stewards Fund (Barnabas Foundation’s donor-advised fund), you can give stock or other non-cash assets into a single online giving account, and then recommend grants to your church or one or more of your favorite ministries at a later date. This is especially beneficial in the year-end rush. So long as you give stock into the Stewards Fund by December 31, you’ll receive credit for this year’s taxes.

For answers to these and other frequently asked questions, contact us.