Overall Process for Gifting of Securities
In order for the process to work extremely easily and smoothly, certain correspondence needs to implement the transfer to be provided to three different organizations, and we are most willing to help you in this process. Sample letters and forms can be downloaded at the end of this page.
The three organizations are:
1. Your broker, or bank, or a mutual fund company, where the shares might be held, with that correspondence coming directly from you to them, with a copy to us at the Cashiers United Methodist Church. See letter # 1 for a templated format to utilize for this part of the process. If you have the actual stock certificate literally in your possession, rather than with a third party, then you will need to sign a “stock power”, see letter # 4, and the process will be slightly different, as the stock power will have to be endorsed to the United Methodist Foundation and then sent to us along with the actual certificate (in this specific case, please do NOT endorse the back of the actual stock certificate itself).
2. Our church, The Cashiers United Methodist Church, notifying us of your intent and specific instructions for use of the funds, and this letter can be sent via mail or by fax to us in Cashiers, so we can coordinate a smooth transfer for you. See letter # 2 for a templated format to utilize for this part of the process.
3. Instructions to The United Methodist Foundation of Western North Carolina, which will be the organization through whom the securities will be processed and transferred, using their agent, Wachovia Bank. And they will also be sending you a letter for use for tax purposes directly which will state the exact date of the gift made, and the specific amount for use in tax preparation. This letter should again be faxed or mailed to us directly, and we will, in turn, coordinate the actions for you directly with the Foundation, and also insure that it is completed in a timely and coordinated manner. See letter # 3 for a templated format to utilize for this part of the process.
Should you have any questions concerning this process, please feel free to call Vic Galef at 828-743-1199 or Peggy Hormann at the church, and we will be very glad to assist you. Click on the links below to download letters or forms.
