Gifts-In-Kind What Are Gifts-In-Kind? Transferring ownership of an asset, rather than selling the asset and giving the cash, is a gift-in-kind. What Kind of Assets Should I Give? Appreciated investment property held more than one year, such as stock, mutual fund shares, bonds, real estate, collectibles, and other such property have tremendous tax advantages. Personal property such as automobiles, jewelry, and other items may also be given. There may be no capital gains tax benefits, but the financial and spiritual benefits can be tremendous. Why Give Gifts-In-Kind? The tax code is very generous toward this form of giving. Giving the asset to the church, then letting the church sell the asset eliminates potential capital gains taxes and can increase the after tax proceeds. How Does The Tax Benefit Work? Itemized Deduction: The individual or business is allowed to include 100% of the market value of most such assets as charitable contributions for tax purposes if held more than one year. Capital Gains: The transfer of property does not generate a capital gains tax. The church, as a tax exempt entity, will realize the full market value, less transaction costs, at the time of sale without paying capital gains taxes. What If I Sell First Then Give The Cash? You may be subject to capital gains taxes thereby reducing the after tax proceeds from the sale. How Do I Give Gifts-In-Kind? For stocks, mutual fund shares, and bonds: Fourth Presbyterian Church uses William Blair & Company as our stockbroker to process stock contributions. Details are as follows: William Blair & Company, LLP Attn: Tom Story/Katie Tindel 222 W. Adams Street – 13th Floor Chicago, IL 60606 DTC # 771 Telephone: (312) 364-8854 Fax: (312) 577-0799 If your stock is held by your broker, it may simply be transferred by your broker to Blair. In order that we can identify you as the donor, you must instruct your broker to specify your name in the transfer. In addition, you may contact Katie Tindel and advise her of the details of your forthcoming gift or to specify any special instructions. If the stock is in your name(s), you may either request stock powers from Blair or from Fourth Presbyterian Church. Send the stock certi€-cates, unsigned, to Blair at the above address. For Our Records: Fax or mail a letter of instruction advising us of the stock gift and the gift date. Also, please indicate if this contribution is being given for: Your annual pledge (account #156-36586-14 General Fund) Capital Campaign Pledge [please specify] (account #145-36540-12) Our fax number is (312) 787-4584. The letter of instruction can be sent to Bertha Delatorre’s attention at the church of€ce. Please contact her at (312) 787-2729 ext. 255 if there are any further questions. FEIN # is 36-2167080 Fourth Presbyterian Church of Chicago