You can make in-kind gifts of stock.
The IICS Foundation, through its partnership with Servant Christian Community Foundation (SCCF) is able to receive in-kind gifts of appreciated, closely held stock. By giving such shares to IICS in kind, rather than selling them first, you can make a larger charitable gift and realize substantial tax benefits at the same time. You will avoid capital gains tax on the appreciated value of the stock and you will receive a tax deduction in the amount of the fair market value of your gift.

What do you need to do?
If you decide to make a gift of closely held stock to IICS, you will need to submit to SCCF certain documents pertaining to the corporation so that it can determine whether the asset is transferable and what the best method of transfer would be. These documents include:

• Articles of Incorporation and amendments
• Current By-Laws
• Shareholder's Agreement and amendments
• Any agreements restricting shares
• Listing of authorized shares and shareholders
• The form of ownership
• Audited Financial Statements
• Current Valuation
• Liquidation/marketing plan information
• SCCF Giving Fund Application

What happens next?

1. SCCF will review the gift and submit a gift offer letter to you as owner. If the decision is made to proceed, a transfer document will be drawn up, either by SCCF or your legal counsel.

2. The gift date will be established when the transfer document is executed. Additional items, such as an appraisal and IRS Form 8283, will need to be obtained after the gift has been completed.

3. SCCF will next either sell the stock or continue the ongoing management of the asset, whichever is appropriate. When the asset is sold, the funds received will be credited to IICS less associated costs.

How can you know if your stock will make an appropriate gift?
Your gift will qualify for the tax benefits if:

• You have held it for more than one year
• It has appreciated in value
• It is transferable and not restricted by any other contract or obligation

What else do I need to know?
SCCF requires that a portion of the gift be retained to cover its costs associated with acquiring, managing and liquidating the gift. When the stock is sold, SCCF will retain a portion of the sale proceeds to cover expenses and support the ministry work of SCCF (See SCCF's website at www.servantchristian.com.) At sale, SCCF will place between 92 and 98% of the net proceeds into the IICS Foundation account. From time to time, SCCF may hold the shares. In such case, any quarterly income distributions, less costs of administration, will be placed into your Giving Fund to benefit IICS.