GRACE Scholars accepts gifts of securities and mutual fund shares. Such gifts are handled through the Archdiocese of Atlanta Office of Finance. The archdiocese receives and sells the shares and forwards the net proceeds to GRACE. Gifts of securities and mutual fund shares are subject to procedures of the archdiocese and its broker. Stock and mutual fund gifts are also subject to state law regarding education tax credits. A two-step process must be followed. Instructions and forms are listed below.For more information, visit Contribution Process on this website.
Step 1 – Apply for tax credit.
Complete and sign pages 1 and 2 of State form TP1 with 2013 info (PDF) and mail to:
Georgia Department of Revenue
Qualified Education Expense Credit
1800 Century Blvd NE
Altnat, GA 30345
You can also apply online for the tax credit. In either case, the department will respond to you within 30 days with an approval letter.
Step 2 – Initiate stock/mutual fund transfer; provide paperwork to GRACE
Step 2 Deadline! You will have 60 days from the date of approval to complete your gift. For electronic transfers, the date of gift is the date the stock or mutual fund shares are received in archdiocesan brokerage account. To be safe, initiate your transfer a week before the 60-day period expires.
A. Initiate the stock/mutual fund transfer by following these instructions:
When communicating with the broker and the archdiocesan finance office, it is important to identify GRACE and your designation as the beneficiary of your gift — “G.R.A.C.E. Scholars, Inc./Board Choice or name of school,” for example. The process runs more smoothly when staff are given early notice. The contact at the archdiocesan office of finance is Mary Ann Brown (404-920-7407). For coordination purposes, please also contact David Brown (404-920-7903), executive director of GRACE Scholars.
With a gift of securities or mutual fund shares, donors may use their own broker/agent to transfer stock. If the stock has been held more than one year, the donor may avoid capital gains tax on the shares as well as a tax deduction for the full value of the stock. Please consult tax advisor about your particular situation. Transfers of mutual fund shares may require additional forms:
B. Provide paperwork to GRACE
2401 Lake Park Dr. SE
Smyrna, GA 30080
GRACE Scholars will respond to your gift
GRACE will send you a thank you letter and state tax forms.
For more information, contact David Brown, executive director, GRACE Scholars, 404-920-7903.