Stock Donations
The easiest way to donate stock to the church is to have the transfer handled by your broker or the company that holds the stock in safekeeping.
Please note: It is our policy to sell any stock gifts as soon as possible and apply the actual cash proceeds, rather than the value of the stock when donated, to your pledge balance.
You can instruct your broker or custodian to transfer the stock to:
PNC Bank
DTC #2616
The Church of the Redeemer
Cash Flow Management Account
#21-70-001-0315342
Address:
PNC Bank NA
Cleveland Trust Securities
4100 West 150th Street
Mail Stop B7-YB17-03-3
Cleveland, OH 44135
It is very important that your broker also notify Greg Neri, our account representative at PNC, that the stock is being transferred. Greg's phone number is 412.747.4857 or email [email protected].
If Computershare is holding your stock instead of a broker, you will be required to transfer the stock to an account in our name. We will receive notification of the transfer, but we will not receive donor names, so please contact Debbi Alsfelder, Finance Officer, at 513.321.6700. This procedure will significantly increase the time between your stock gift and the stock sale, and will potentially affect the cash proceeds.
We can also accept donations of stock that you hold in certificate form, although this is a more cumbersome process. You will need to have the shares reissued in the name of “The Church of the Redeemer" and deliver the certificates to the church office. Please be aware that it may take up to three weeks to sell stock we receive in certificate form, especially at the end of the year. There can be significant changes in the value of the stock during that time.
If you have any questions or need more information, please contact Debbi Alsfelder, Finance Officer, at 513.321.6700.
