Gifts of Stock

Your broker or accountant will advise you on the best course of action, based on your particular financial circumstances.  However, the rule of thumb is -- If the stock has appreciated since it was acquired, the donor will receive the greatest benefit by transferring the stock to the church, thereby avoiding capital gains tax and engendering the opportunity to claim a charitable gift deduction on federal income taxes. 

If the stock has depreciated since it was acquired the donor will receive the greatest benefit by liquidating the stock, claim the loss and claim a charitable gift deduction.  Because individuals’ circumstances differ, the above should not be considered tax advice.  Donors should consult with their tax preparer to determine the best course of action for them when making gifts of stock.

The Diocese of Greensburg employs Janney Montgomery Scott (JMS) and deals Mr. Hank Oppermann in the Uniontown office.  If you are going to transfer appreciated stock, please instruct your broker to transfer the stock to the following account:

·         DTC# 0374

·         Janney Montgomery Scott

·         Further credit to – FBO Diocese of Greensburg, parish, Catholic school, Catholic Charities, Catholic cemetery, and/or appeal or Campaign

·         Account number: 2634-0576

After it is received, the stock will be sold at its current market value.  The proceeds of the sale will be sent from JMS to the Diocese of Greensburg (less a transaction fee), and the entire amount sent will be forwarded to the parish, school or cemetery.  The diocese does not charge a fee for the transaction.  The donor will receive credit for a gift equaling the full value of the stock on the date it was received into the diocesan account at Janney Montgomery Scott.

Please have your broker notify us by e-mail after the transaction is completed. The email should include:  the donor's name, the name of the stock and number of shares along with any special instructions, including the beneficiary of this gift (parish, school, cemetery, etc.)

Our staff will alert the diocesan representatives at JMS, who will "watch" for the arrival of the stock.  That will help to expedite the process.  When the transfer is complete, the donor will be sent an acknowledgement letter from the diocese, which may be used for IRS tax filing.

Any questions regarding gifts of stock may be directed to Mary Ann Knochel at The Catholic Foundation for the Diocese of Greensburg using the above e-mail address or by calling 724-552-2502.