Donating stocks to Church with 501 C (3) church exemption

[khorshed]

My client is a Church with 501C (3) exemption. An Individual offered to donate "X" stocks to the church. my understanding the church needs to open a brokerage account to transfer the stocks, correct? 

When the church receive the stocks & sell them, do we have to report the sales to the IRS? right now church is exempt from filing taxes? 

[George4Tacks · Accepted solution]

Yes, the church would have to open an account to hold the shares and to sell them. It is possible that a paper certificate could be issued, but ....

Why is the church exempt from filing? Look at this link.