Monsignor Lafferty Stock Donation

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.
  • Donor or broker initiates transfer of the stock and to obtain 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 65% 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.
  • Donor receives appreciated stock value for the donation of the stock for both the Iowa tuition credit and charitable donation for federal tax purposes.

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

Contact Sharon Olerich for more information at srolerich@kuemper.org or 712-792-3313.