(From November 2000 Nativity newsletter)
"and let us run with
perseverance the race marked out for us."
Hebrews 12:1
Our stewardship drive for next year will "run" (pun intended)
during Advent. Please watch for additional details in Tidings or the weekly bulletin.
Giving Stock, Mutual Funds, and Bonds
Vestry members have agreed to establish a written policy outlining the
procedure when people donate stocks, or mutual funds or bonds to the church. Assistant
Treasurer Russ Housel brought up the subject during a recent meeting because some problems
have developed as more folks choose to give to Nativity.
The unwritten policy is that the church sells the stock as soon as
possible, but some times there has been an unreasonable delay for various reasons. If the
stock goes up, that's great, but some times the stock drops.
Therefore, the donor needs to let Joe Schifano, the Treasurer, or Russ,
his Assistant, know as soon as possible so that one of them can inform Smith-Barney and
the transfer can be handled in an expeditious manner.
Some people are under the impression that the brokerage company will
inform the church. First, that is not necessarily true, and even when it is true, the flow
of information may take an inordinate amount of time.
For tax purposes, the donor receives credit for the stock value on the day
it was donated. But that doesn't necessarily help the church.
Nativity is happy to receive these gifts and does not want to look a gift
horse in the mouth, but the church needs your cooperation with this situation.
Previous Stewardship messages:
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