A Win Win For Both Parties
Thanks to changes at Revenue Canada over the past few years, gifts of stock have become more attractive donation vehicles. Charities receive a donation and stock owners reduce the amount of tax they need to pay. But, while there are donors searching to give via stock, not all nonprofits are taking full advantage of ths improved opportunity.
At a minimum, a number of nonprofits have created small informational insert pieces included in donor receipt packages. Donors are asked to consider a gift of stock. Most also include details on how to start the process (you can find simple charts on the website).
How else are groups attracting stock?
Some have created and branded their very own 'gift of stock' website. The William Osler Health Centre Foundation is one example. You can find their site at: 'www.givestock.ca'. Potential donors can identify with the donor testimonial that is front and centre on the home page of this website - an address the foundation has secured as their own. Potential donors googling this option have a very strong chance of seeing their page. The home page also briefly but concisely explains the process of stock giving via a welcome message from the Foundation's CEO.
Why Charles and Lenore Armstrong Donate Securities
Charles and Lenore Armstrong know a winner when they see it. The long-time Brampton residents have seen great success in the breeding and racing of Standardbred horses, ranking among the leading breeders in North America since 1965 so when Brampton Civic Hospital became a reality, Charles and Lenore recognized the importance to Brampton and the surrounding areas.“We are excited Brampton and the surrounding community will soon have this tremendous asset and we want help make sure William Osler has all the resources to make it the best hospital around,” says Charles.
The Armstrongs met with the Foundation and discussed several giving options, including gifts of securities. In the end, a gift of stock appealed most to them. "We chose to donate stock because it made the best sense for us. The Foudantion met with us, discussed the advantages and processed everything with our financial advisor."
Whether nonprofits go as far as creating a unique website or an insert, what's most important is for groups to let prospective stock donors know they should be considered. Not all nonprofits have the resources to set-up a website similar to the one set-up by the William Osler Foundation, but a simple info checkbox also gets the message across and may attract a new supporter looking for a way to both decrease their tax burden and give back.
