Gifts of Securities Information
A few things to note about gifting securities:
- DO NOT SELL the securities yourself; they must be gifted in-kind to the Foundation following the process explained here.
- Complete these two easy-to-to complete forms:
Complete this form to give your financial advisor/broker the instructions to make the gift to the Foundation. The form contains all the information your advisor will need to make the transfer. He/she will then submit this form to our broker at CIBC Wood Gundy to advise that the transfer is pending.
Complete the form, linked above in bold, and send it to us to advise us of your gift, and instruct as to what you would like your donation to support.
What happens after I have made the gift?
- You will receive an official donation receipt for income tax purposes for the value of the securities when they are received by us.
- Following our policy and best practice, they are then sold by our broker at CIBC Wood Gundy as soon as possible (usually the morning of the next trading day).
Due to this short trading delay, there is often a gain or loss on the sale of the security; this impacts the actual proceeds available for distribution, but not the amount on your receipt.
- The net proceeds from the sale (proceeds less fees) are available for distribution per your instructions.
1. There are no fees charged by the Foundation for gifts directed to any funds held by the Foundation.
2. An administration fee is charged for “flow through” gifts: donations made to the Foundation that are immediately directed to other charities.
3. CIBC Wood Gundy charges the following brokerage fees to the donation: Under $10,000 – $0 | $10,000 to $19,999 – $150 |$20,000 to $29,999 – $200 | $30,000 to $39,999 – $250 | $40,000 to $49,999 – $300 |$50,000 and above – $350
When you give to the Community Foundation you can have confidence that your community will continue to benefit from your gift for many years to come.
Credit Card or VISA Debit Card
If you’re ready to make your gift now, then use our secure online giving page. You have the option of choosing any one of our funds, giving ‘in memory of/in honour of’ instructions, and more. Or, if you prefer, you can simply call 613-546-9696 to make your donation over the phone using your Visa, MasterCard, or AMEX, or VISA Debit card. You can make a one-time gift, or sign up to make a regular monthly donation.
Please make your cheque payable to Community Foundation for Kingston & Area (or “CFKA”), and write the Fund name in the memo line. Drop it off or mail to: 275 Ontario Street, Suite #100, Kingston, ON, K7K 2X5.
A gift of publicly-traded securities is the transfer of ownership of stocks, bonds, or mutual funds, to the Community Foundation for Kingston & Area. If you own shares that have increased in value, 50 per cent of the capital gains are taxable. However, if you donate these shares in-kind to CFKA, 70 per cent of the capital gain will be tax-exempt. Learn more.
Form 1: Direction to Transfer Securities or Mutual Funds Electronically as a Charitable Donation Complete Form 1 to give your financial advisor/broker the instructions to make the gift to CFKA. The form contains all the information your advisor will need to make the transfer. They will then submit this form to our broker at CIBC Wood Gundy to advise that the transfer is pending.
Form 2: Notice of Transfer of Securities
Complete Form 2 and send it to CFKA to advise us of your gift, and instruct as to what you would like your donation to support.
Contact us at 613.546.9696 or email@example.com if you need any further assistance.