Gifts of securities (stocks) entitles the donor to an income tax deduction equal to the fair market value of the securities. If you will be transferring stock or other securities to the Catholic Community at Stanford, please be sure to notify Director of Development M’Lis Berry (firstname.lastname@example.org) directly so that she may assist you in ensuring that the Diocese guides the funds to the Catholic Community at Stanford parish.
The following are the Diocesan instructions for stock donations to Catholic Community at Stanford:
It is possible to donate share of stock to the Diocese of San Jose by either stock certificates or stock transfer from broker-to-broker. A stock transfer sends shares from your account to the Portsmouth Financial Services, the broker for the Diocese of San Jose. Portsmouth, upon receiving the stock, sells the stock at its earliest opportunity. The financial firm then sends the proceeds to the Diocese of San Jose, who will then distribute the funds to Catholic Community at Stanford.
To make a broker-to-broker transfer, your broker needs the following written instructions:
- Diocesan Broker: Portsmouth Financial Services
- Account Manager: Walter J. Bankovitch
- Broker Address: 250 Montgomery Street, Suite 200, San Francisco, CA 94104
- DTC #: 0443
- Account Number at Portsmouth Financial Services: 6PH105792
- Taxpayer ID#: 94-2734503
- Portsmouth Financial Services Phone Number: 415-543-8500
Once the stock is transferred:
- Please send written instructions to the Diocese of San Jose Department of Financial Services, letting them know you would like the proceeds to be given to the Catholic Community at Stanford. The Diocese’s address is: 1150 North First St., Suite 100, San Jose, CA 95112-4966. The fax number is: 408-983-0296
- In the same letter, please copy M’Lis Berry so that she will also receive notice of the gift and may ensure that Catholic Community at Stanford ultimately receives it. M’Lis address at Catholic Community at Stanford is: P.O. Box 20301, Stanford, CA 94309
- The Diocese requires that you identify the number of shares and the type of stock given (e.g., 100 shares of XYZ corporation).
- Stock donations for which the beneficiary cannot be determined after three (3) years will be assigned as unrestricted undesignated donations to the Chancery of the Diocese of San Jose.