Another Way to Invest in Kenrick-Glennon Seminary
Do you own corporate securities (i.e., stocks, bonds and mutual funds, etc.) which don’t figure into your current or long-term financial planning? I’m referring to a smaller number of shares of stock that you may have purchased some years ago, maybe were given to you by a relative, or perhaps you may have inherited. Maybe you’d be willing to donate these shares to the Seminary if you could do it hassle-free and without cost. The good news is that Kenrick-Glennon Seminary gratefully accepts gifts of corporate securities, and we can handle such transfers in a way that’s simple, costs you nothing, and should involve no adverse tax consequences for you. As a matter of fact, depending on your circumstances there may even be some valuable tax advantages in it for you. Here’s how it works.
If you have the actual stock certificates, please give me a call in the Seminary’s Development Office at 314-792-6113. I will be happy to provide you with guidance on how easy it is to have the shares transferred to the Seminary. If the securities are being held either in a brokerage account or by the corporation, we can also make easy arrangements for the shares to be transferred to the Seminary. That’s all there is to it! We’ll take care of the rest. The Seminary will inform you of the value of the stock as of the date of your gift. We will also arrange to sell the shares and pay any brokerage fees. The result is that you will have made an important investment in the training of our future priests, and you will have done it in the simplest way!
Furthermore, donors are normally entitled to claim a tax deduction for the full value of gifts like this regardless of what they (or some one else) paid for the shares. In other words, you won’t need to do the time consuming research normally required to figure your basis “in such assets. No expensive capital gains tax—no complicated tax calculations!
Another way you might give a gift of securities is if, for example, you own a substantial number of shares of stock or corporate securities and you would like to donate a portion to the Seminary as a way of supporting the training of future priests. The process—and its simplicity—is nearly identical. Just call the Development Office and we can work out all the details. And thanks for helping our seminarians!
John Cleary
Director of Development
Kenrick-Glennon Seminary