Stock Transfer Information
Direct your broker to transfer the shares of stock to the Central Vineyard Church Account at Charles Schwab:
Account # 77335663; DTC # 0164 code 40
- Contact Karl Boettcher at Central Vineyard with the following information (you may send an email or your broker may send a letter):
- Date you initiated the stock transfer with your broker
- Name of stock you will be transferring
- Number of shares of stock you will be transferring
It is important to communicate with Karl for two reasons:
First, Central Vineyard's policy is to sell the securities upon transfer, making the proceeds immediately available for funding. Since Charles Schwab does not watch our account daily, we need to notify them when a transaction is in process.
Also – Central Vineyard will receive a record of the stock receipt and sale from Charles Schwab, but the record will not state your (the donor’s) name. CV will need to know that you donated the stock in order to issue a letter for tax purposes.
Please note: The letter Central Vineyard sends you will be an acknowledgement of the stock gift received (name of stock, shares given, and date) and can be used as documentation for tax purposes. Since stock is a non-cash donation, the IRS does not allow churches to state the amount the stock was worth.