Someone Wants to Give Your Parish Stock, Now What?
Contributing to our faith community through stock gifts has been a long-standing tradition within the Archdiocese of Baltimore. For those unfamiliar or needing a refresher on the process, here's a quick guide to ensure that your parishioners' generous gifts are seamlessly transferred and promptly put to good use.
Before diving into the details, it's worth noting why stock gifts are an attractive donation method. Apart from offering tax benefits to the donor, these gifts, once received, are sold, converting the stock into a direct cash donation for the parish. This method ensures that the parish can swiftly utilize the funds where they are most needed.
Steps to Facilitate a Stock Gift
STEP 1
Direct Parishioners to their Brokerage Service: Encourage those wishing to donate to contact their brokerage firm.
STEP 2
Share Archdiocese's Trusted Firms Information: Equip your parishioners with the details of the two firms with whom the Archdiocese has a longstanding partnership. Their broker will facilitate the electronic transfer of the stock.
Alex Brown 226 Schilling Circle Suite 270 Hunt Valley, MD 21031 Attn: Laura-Lynn Renner (410-525-6240) DTC Number: 0725 Raymond James Clearing Account Number: 891N4618 Account Name: Roman Catholic Archbishop of Baltimore
Morgan Stanley 650 S. Exeter Street, Suite 1100 Baltimore, MD 21202 Attn: Gavin Rayburn (410-736-5322) DTC Number: 0015 Account Number: 633-162167-190 Account Name: Roman Catholic Archbishop of Baltimore
If needed, the Authorization form is available here: https://www.archbalt.org/stock-transfers/
STEP 3
Ensuring Proper Notification: As a pivotal step, advise the donor to inform the parish office and the Advancement Department at the Archdiocese. This way, stock transfers can be tracked and expedited. Communication with all parties helps to ensure the gift is correctly acknowledged and directed.
Who to notify at the Archdiocese:
Tanika Harris
Senior Director, Advancement Services and Stewardship E-Mail: Tanika.Harris@archbalt.org
Phone: 443-263-1951
Archdiocese of Baltimore
Advancement Department 320 Cathedral Street, 4th Floor Baltimore, MD 21201
Acknowledgment and Thank you
Upon receipt of a stock gift, Fiscal Services will send an acknowledgment letter to the donor. This letter serves as a confirmation of the donation and our appreciation for their contribution. It is also best practice for the parish to send a thank you note so the donor can feel extra special!
If you have any questions, please reach out. We are happy to help!
