One of the most financially sound ways to support the ministries of the Anglican Church of Canada is through your gift of securities. Thanks to changes in Canadian tax laws in May of 2006, when you donate publicly traded stocks, mutual funds, and other securities directly to a registered charity, you pay no capital gains tax and receive a tax receipt for the full amount of the gift. It means a great tax break for you and support for the causes closest to your heart.
Usually when you sell a security, you are required to pay tax on 50 percent of the capital gain. But when you transfer that same security directly to a charity like the General Synod of the Anglican Church of Canada, you realize no tax on the capital gain. This is a tremendous incentive for you to give securities as a gift now because it eases your own tax burden. Or give a gift of securities as a deferred gift in your will because it will offset the tax against your estate. In addition, any unused deductions can be carried forward over the next five years.
How to donate securities
Depending on whether you hold your securities with a broker or as physical documents (i.e., stock certificates), you may donate them electronically or by physical delivery.
For electronic transfer, we are happy to provide CanadaHelps. This organization is also a registered charity and nonprofit social enterprise. Its mission is to promote – and ultimately increase – charitable giving in Canada. Because they are also a non-profit their fees are typically half that of the for-profit alternatives. As a donor this is terrific news for you because more of your gift reaches those intended.
To make your gift please contact your broker or financial advisor by phone, email, or in-person. Let them know you would like to make a donation of shares through CanadaHelps.
Please clearly specify to your broker or financial advisor where you want your gift to go. CanadaHelps lists all the Anglican ministries, diocese, and churches.
If you cannot find the church, diocese, or ministry you wish to give to, please contact the Manger of Major Gifts and Legacy Giving or have your advisor or broker contact the Manager of Major Gifts and Legacy Giving, Gillian Doucet Campbell at 1-888-439-GIFT (4438), or [email protected].
Important: Please be sure to tell your broker to write a note where the CanadaHelps form asks “Add a message to this charity” to indicate the area of ministry you wish to designate your gift to. For instance, if your donation of securities is to the General Synod of the Anglican Church of Canada please indicate the area you want your gift to go to, such as area of greatest need, Resources for Mission, and so on. Or, if you are giving to your church, please indicate what area you would like to support, such as the building fund, children’s ministry, Messy Church, general fund, etc.
To ensure your gift is distributed according to your expectations, please also fill out the Gift of Securities or Mutual Funds Acknowledgement Form and either scan and email, fax, or mail as noted on the form.
If you hold shares in certificate form, you will need to bring the actual stock or bond certificate(s) to the Anglican Church of Canada’s broker:
RBC Investor & Treasury Services, Securities Cage
155 Wellington Street West, 2nd Floor
Toronto, ON M5V 3L3
C.U.I.D. # RTRA Account #026324008
Alternatively, you could mail the stock certificates to the General Synod of the Anglican Church of Canada’s stockbroker with a signed Power of Attorney form, along with a copy of your driver’s license or birth certificate. If you hold more than one stock certificate, a signed Power of Attorney has to accompany each stock certificate (we advise you to use registered mail or courier to track your documents).
Important: Please inform the Manager, Major Gifts and Legacy Giving of your intent so we can ensure you receive the proper tax receipt and your gift goes to the ministry you have designated as quickly as possible. You may do this by calling, emailing, or by filling out the Gift of Securities or Mutual Funds Acknowledgement Form and sending it electronically, by fax or mail as noted on the form.
How you benefit
|Sell shares and gift cash to charity||Gift shares directly to charity|
|Current market value of stock and amount of tax receipt||$100,000||$100,000|
|Capital gain realized ($100,000 – $20,000)||$80,000||$80,000|
|Taxable capital gain (50% of $80,000)||$40,000||$0|
|Tax due on gain (46% of $40,000)||$18,400||$0|
|Donation tax credit (46% of $100,000)||$46,000||$46,000|
|Net tax savings from donation (tax credit minus tax due)||$27,600||$46,000|
There are numerous options for legacy gifts. We encourage you to consult with your legal and financial advisors to consider all the relevant issues and income tax provisions.
Brochures are available on the various ways to give a planned gift. For any of these brochures, or for advice on how to give, please contact Resources for Mission at 416-924-9192, 1-888-439-GIFT (4438), or [email protected].
Our legal name is “General Synod of the Anglican Church of Canada” and our charitable number is 10808 2835 RR0001.