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Giving to Sacred Heart

There are many ways that you can make a charitable contribution to Sacred Heart. You can make a gift to Sacred Heart by:

  • Cash or by Check - This is the most popular and frequent way to give. We encourage parishioners to use the envelopes provided for that purpose.
  • Appreciated Property - Giving appreciated property, such as stocks, bonds, mutual funds, and other types of property that have increased in value since you owned them, can result in extra tax savings for you.
  • Financial Giving Response Form

Looking to the future, there are other giving alternatives to consider. You can give:

  • Gifts with Retained Income for You or Others - Such gifts can provide income for you and/or others, along with current and future tax savings and other financial benefits.
  • Gifts Through Your Will or Living Trust - You can specify a certain amount, percentage, or property, to be donated to Sacred Heart.
  • Life Insurance - Life Insurance proceeds or a portion of the proceeds can make an excellent gift to Sacred Heart.
  • Retirement Plan Assets - Giving a portion of Retirement Plan Assets can be a simple method of donating to Sacred Heart. Such gifts can be made on a tax-free basis during, and/or following your lifetime.

For additional information, please contact: Robert Pirsein, Business Manager, Sacred Heart Parish, (847) 446-0856, ext. 113.

Guidelines for Gifting Securities

For the convenience of those who wish to donate securities to sacred Heart, the Church maintains an account relationship with Smith Barney CitiGroup (SB). if you wish to make a tax-deductible contribution of securities, it is necessary that your securities be transferred to that account to complete the gift. Do not sell the securities while they’re still registered in your name, as you will incur the capital gains taxes. In order to receive due credit and confirmation for the tax-deductible contribution, it is important to notify either Robert Pirsein at the Parish Center or Christopher O’Donnell at SB (see below) of your intentions prior to issuing instructions to your broker. There arc three basic scenarios, with No. 1 the easiest and Nos. 2 & 3 more complex and possibly costly:

  1. Securities registered in “street name,” or ‘book entry” form at an existing brokerage firm. In this case, the donor issues written instructions to that broker to transfer XYZ shares to the Sacred Heart account with Smith Barney (Account number 576-0H606-18-494, DTC0418).

  2. Securities held in certificate form by you or a trust for the exact amount you wish to gift. You the donor prepare a Letter of Authorization (LOA) to accompany the share certificates and an executed blank Stock Power to re-register the shares in Sacred Heart’s SB account for subsequent disposition by Sacred Heart. Alternatively, you call set up a tempo¬rary account with SB to receive the shares from you and then issue an LOA to SB to trans¬fer the shares from that new account to the account of the Church. You will need to provide some basic information in order to establish that account.

  3. Securities held in certificate form other than the exact amount you wish to gift. There are two possible approaches here: *Donor initiates a temporary account with SB. Share certificates and signed blank Stock Powers are sent to SB, Attn: Chris O’Donnell, for the to-be-established SB account (see 2 above). A W-9 form needs to be executed to verify your Social Security Number. The LOA must accompany the share certificates instructing SB to trans¬fer the desired number of shares to Sacred Heart, leaving the residual shares in your ac¬count for subsequent disposition as desired.

*Donor issues an LOA to the Stock Transfer Agent designating the number of shares desired for transfer to the Church, with remaining shares to be retained by the Donor. Two certificates, in your name or Trust, would then be sent back to your address of record, thus enabling you to send the appropriate certificate to SB for gifting to the Church under scenario 2 above. Timing of the transfer is contingent upon the action of the Stock Transfer Agent.

Please feel free to call either Robert Pirsein, Business Manager at Sacred Heart Church, (847) 446-0856, ext. #13 or Christopher O’Donnell at Smith Barney (312) 648-3543 or (800) 621-5231 should you have any questions.