$440K Stock Donation Helps Push Church Project Forward
It’s been a dream in the making for years—and with a lot of sacrifice and a community full of generous hearts, St. Thomas More Catholic Church is making big strides toward building it’s new, permanent church in Irvine. Most recently, one parishioner looked beyond the gift of cash and maximized his impact by donating stock through The Orange Catholic Foundation (OCF).
The anonymous donor contributed more than $440,000 to St. Thomas More Catholic Church’s Building Fund and Capital Campaign. Pastor Rev. Eugene Lee said, “I struggle to fully express how much in awe I am and how humbling it is to see such amazing generosity and faith of the people.”
The donor mentioned how easy it was to make this transformational gift: “I learned sacrificial giving from my parents, and we want to teach our children the same. The donation of appreciated stock allowed us to give more effectively to our church, while reducing our tax bill. After connecting OCF and my broker, I did very little.”
“It’s incredibly important that we build this house of worship. It will serve our current needs but also be a sacred place where we can administer the sacraments for generations,” the anonymous parishioner continued. His generous stock donation and an additional gift of stock from another parishioner gave the St. Thomas More community the boost it needed to push building plans forward. After years of attending Mass in the hall, the parish is expected to break ground in late 2025 on the new church which will comfortably accommodate close to 1,000 people.
“We love Jesus. The community wants to offer our very best to our Lord Jesus Christ, who gave up everything for us,” Fr. Eugene added, “To build a church is to glorify and honor His majesty and His kingship in our lives.”
Even though the church project is moving forward, the hard work isn’t over because the parish is still working toward the $24 million capital campaign goal. With a recent push for new pledges, Fr. Eugene is appreciative of the partnership with OCF, which helps the parish facilitate donations of appreciated assets, and for “the donors who took this approach because we can use them as a great example.”
How Stock Donations Amplify Your Impact
With about 97% of U.S. household wealth being held in non-cash assets, contributing to your parish or other Catholic causes with stocks will increase your impact and your tax benefits.
Matthew Kimmel, the Senior Vice President, Trust Manager and Investment Officer for Farmers & Merchants Trust Company and an OCF Advisor, further explained the benefits of donating stock: “You don’t have to pay that big capital gains tax that you would have if you sold it on your own, and you get a tax write off at the current level of the stock.”
Ready to start exploring your opportunities to “…do good, to be rich in good works, to be generous, ready to share” (1 Timothy 6:18) with your non-cash assets? Download OCF’s stock donation form or reach out to our Philanthropy Team to get your strategic giving questions answered at (714) 282-3021 or info@OrangeCatholicFoundation.org.To view renderings of the new St. Thomas More Catholic Church building or learn more about the project, click here.Please note that The Orange Catholic Foundation does not provide tax, legal or accounting advice. This material is prepared and made available for informational purposes only and is not intended to provide or be relied upon for tax, legal or accounting advice. Every donor should always consult a tax professional to determine his or her particular tax benefits and other consequences that may result from any particular type of gift to charity.