Securities are another way to help First Church and our mission. Appreciated securities, whether they are stocks, bonds or annuities, provide the same benefit as a cash gift. The donor can avoid the Capital Gains taxes and many times the fair-market value of the appreciated securities can be deducted, if the donor held them for longer than six months. However, on average, donors will sell depreciated securities and give the cash proceeds to First Church Congregational, Fairfield. The donors are able to take a capital loss on the depreciation and still receive a charitable income tax deduction for the amount of cash donated.
Stocks can be transferred to First Church’s investment account. Regardless of what broker you use, there is no need to set up another account in First Church Congregational, Fairfield’s name with your broker. Simply call us and we will provide the account number to make the transfer.
If you hold the securities in certificates, do not endorse the certificates. Simply send the unendorsed certificates to First Church Congregational with a letter via first class mail, insured for the value of the stock. We will send you a stock power to be completed and signed, with your signature being guaranteed (usually by a bank official showing that this is indeed your signature.) The stock power should then be mailed to us via first class mail.