Giving a Few Shares: Providing a Faith-Based Education

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How Does It Work?

• Donor or broker notifies the Diocese of Sioux City of his/her intent to donate stock. Notification can be done via telephone, e-mail, or fax.

• The donor or broker initiates the transfer of the stock and obtains Diocesan account information for transfer.

• MLTF assumes ownership of the stock and sells it for market value.

• The donor receives an Iowa tax credit equal to 75% of the average value of the stock on the date of donation. This tax credit can be applied to Iowa income tax liability within the next 5 years.

• The donor does not recognize the gain from the sale of the stock for federal or state income tax purposes.

• The donor receives appreciated stock value for the donation of the stock for both the Iowa tuition credit and charitable donation for federal tax purposes.

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Need More Information? Contact at (515) 955-6077 or stuckyk@st-edmond.pvt.k12.ia.us

Information contained in this flyer is not professional or legal advice. Consult a tax advisor about your individual tax situation.