Gifts of publicly traded securities are an attractive option for donors. When you transfer to the United Church gifts of shares, bonds, bills, warrants, futures, or units of mutual funds listed on a prescribed public stock exchange, you will not pay tax on any capital gain. Because you also qualify for a charitable tax receipt based on the asset’s fair market value, the net cost of a gift of securities may be less than a gift of an equivalent amount of cash.
The process of gifting securities is simple. At your direction, your broker will electronically transfer your securities to the Church through The United Church of Canada Foundation. The Foundation then sells the stock on the day your gift is received. Based on the sale price, the Foundation will issue you a charitable tax receipt for 100% of the funds received. The Foundation will then direct the proceeds of the sale to whatever United Church congregation, program or ministry that you wish.
You may also wish to consider donating listed securities in your will instead of making a cash bequest. Because capital gains will not be taxed, your estate may realize considerable tax savings that may increase the amount going to your beneficiaries.
To facilitate your gift, please contact The United Church of Canada. We will send forms for you to authorize your transaction, for your broker to complete and so initiate the transfer.