Parishioners’ Gifts to Parishes

February 1, 2019


Several parishes in the Diocese have asked for assistance in handling stock donations by their parishioners. In many cases parishes do not have relationships with brokers and that makes it difficult to receive gifted stock. The Board of Managers is happy to assist any parish wishing to take advantage of the brokerage relationships of the Board of Managers. The Board of Managers has set up a special brokerage account with Fidelity Investments, the brokers and custodian we use in the management of the Easton Episcopal Fund.

The first step is for each parish wishing to use this service to send a letter to emeritus Fund Administrator, Chris Maxwell, stating that the parish wishes to the Diocese to assist in the receipt and liquidation of stocks donated to the parish. That letter should include the name of the parish, account at the parish’s bank, the bank name, account number, and bank routing numbers. An officer of the Vestry should certify that the action was approved by the Vestry citing the date of the Vestry meeting when the action was approved. After the approval the parish should tell interested donors to deliver the securities to:

Fidelity Investments
DTC #226
For the Benefit of the Diocese of Easton
Fidelity account number: 638-175689

For further credit to ( name of parish )

Once the securities are in the account they will be sold as soon as possible. As soon as the parish is aware that a donor is sending securities someone from the parish should contact the fund administrator to inform the fund administrator to be on the lookout for the specific securities being sent. It normally takes three days after the date of sale until the money can be sent to the parish. However, proceeds cannot be sent to the receiving parish until the parish informs the Fund Administrator the securities donated and the name of the donor. The Fund Administrator is:

Christopher Maxwell
20561 Rock Hall Avenue
Rock Hall, MD 21661

The Diocese will send an acknowledgement to the Donor with a copy to the receiving parish.