Giving
Through your generous support you have enabled our church to make a difference in many lives. Because of you so many good things are happening in and through FPCB. From our children's ministry, which has grown to be the second largest in the Presbyterian denomination, to our worship services, which help connect us to God, and from our youth ministries to our care and support ministries, your giving enables FPCB to meet the needs of people who come here.
"Each of you must give as you have made up your mind, not reluctantly or under compulsion, for God loves a cheerful giver." II Corinthians 9:7
Did you know :
1. You can set up regular monthly giving online? You can also make gifts to the Ripple Effect Campaign and to the Jubilee 2008 All Church Service Day online. Click here to get started.
2. There are tax advantages in giving appreciated stock held for more than one year? Read more about giving stock below.
Why Give Stock?
- There are tremendous tax advantages in giving appreciated stock held for more than one year.
- Giving the stock to the church and then letting the church sell the stock eliminates potential capital gains taxes and can increase the after tax proceeds.
How Does Giving Stock Work?
- Deduction - The donor is allowed 100% of the market value of the donated stock for the charitable contribution itemized deduction.
- Capital Gain - The transfer of stock to the church 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 the sale without paying capital gains taxes.
Illustration of Selling First and Giving Proceeds compared to Giving Stock
| Sell First | Giving Stock | ||
| Market Value | $15,000 | $15,000 | |
| Cost Basis | -$5,000 | -$5,000 | |
| Gain | $10,000 | $10,000 | |
| Capital Gains Tax (Assuming 20%) | $2,000 | $0 | |
| After Tax Proceeds | $13,000 | $15,000 |
Transfer Instructions (for stocks held in "Street Name"):
1. Contact your broker and request the transfer.
2. Provide the following information to your broker:
- Firm Charles Schwab
- DTC # 0164
- Account # 32948367
- Account Name First Presbyterian Church of Bellevue
3. Your broker will provide the transfer papers to complete the transfer.
4. Contact , (425) 454-3082, and inform him when you are transferring the stock, the name of the security being transferred, and that the donation is for the 2007 Ministry and Mission Budget.
For shares in your possession, you will need to endorse the certificates and have the signature guaranteed by a financial institution in the "Medallion Stamp Program."
For any other types of assets, contact , (425) 454-3082.