What are gifts of securities?
Gifts of securities are publicly traded stocks, bonds, mutual funds, or other securities donated to charities like Scarborough Health Network Foundation.
What are the benefits?
By donating the stocks directly, you will be exempt from paying tax on the capital gains and receive a donation receipt for the fair market value of your appreciated stocks. You can claim charitable donations for up to 75% of your net income, and there is a five-year carry forward on any unused donation amount.
Donating securities directly to SHN Foundation avoids the tax on capital gains, maximizes the return on your investment, and protects the tax credits for use against other taxable income.
Why should I choose SHN Foundation?
SHN provides exceptional quality care every day at our three Scarborough hospitals – Birchmount, Centenary, and General. Despite a high level of care, our facilities are in urgent need of upgrades to care for our growing community. Through gifts of securities, you can make a difference in the lives of our patients, staff, and community by ensuring our hospitals are equipped to care for them long into the future.
What our donors say
“When I learned about making a gift of securities donation, I knew it was something I wanted to do,” says Bapsy Premjee, who donated in honour of her uncle. “I wanted to make a difference during my lifetime and be able to see my uncle’s name on the donor wall. This way, I also get a great tax benefit and will get to see how my donation can help improve healthcare in Scarborough.”
“As a CPA, I was aware of the benefits I get when donating stocks rather than cash,” says Kam Shah, a long-time donor to SHN and retired Certified Professional Accountant (CPA). “Not only are the capital gains on stock not taxable if gifted to a charity, but you also get the stock’s fair market value as the donation value, which you can claim on your tax return.”
Whether you are motivated by generosity or a desire to reduce your tax bill, the benefit to the charities you support is significant. You also create a legacy that will be remembered for generations to come.
Click here to view an illustration of the benefits of making a gift of appreciated securities.
If you want to learn more about gifts of securities, please visit SHN’s Legacy Giving page or contact Verna Chen, Associate Vice President, Gift & Estate Planning, at vchen@shn.ca.