Churches and other charities nationwide are seeing more of their donations in the form of technology stocks, the Los Angeles Times reports.

Those who have benefited from the boom in high-tech stocks are the ones giving the most -- thus allowing recipient groups to increase their overall budgets, build new buildings, start scholarships and boost programs, the article reports.

Most religious organizations receiving stock donations don't like to "play the market," the article states, and therefore cash their stocks out immediately.

But others have earned big gains by waiting -- even if it's just a short time. Sometimes big gains are seen from the short time it takes to transfer the shares to the charity.

The First AME Church in Los Angeles received an anonymous donation of Qwest Communications International stock back in August, when the value was $15,000. It was to be earmarked for scholarships, but the church -- not wanting to cash in the stocks yet -- took the scholarship money from its general fund. The stock has nearly doubled in value since August, the article reports.

Stock gifts at the Temple of Emmanuel in Beverly Hills, Calif., went up by 25 percent over the past year, according to Rabbi Laura Geller.

The article points out that no capital gains taxes need to be paid on stock donations, and the donor received a tax deduction as well. The religious organization also doesn't need to pay capital gains taxes, either.

The trend of donating stock is more noticeable in high-tech areas, including Silicon Valley, Seattle and Austin, Texas, the newspaper reports.

Full text of the article is currently found at:
http://www.mercurycenter.com/premium/business/
docs/donations28.htm