Ways to give
Gift of Shares
Give more and pay less income tax*
By donating shares, bonds or other financial securities directly to the McCord Museum Foundation, you may avoid paying capital gains tax and receive a tax receipt for the fair market value of your securities on the day they are received by the Foundation.
The following example shows the results from:
- Donating the proceeds (cash gift) from the sale of shares (Scenario A)
- Donating shares directly (Scenario B)
| Scenario A Sell shares and then donate cash |
Scenario B Donate Shares directly to the McCord Museum Foundation |
|
| Current value of Shares (Gift) | $10, 000 | $10, 000 |
| Cost of Shares (amount paid) | $6, 000 | $6, 000 |
| Tax on capital gains at 50% | $4, 000 | $4, 000 |
| Tax credit at 50% | $1, 000 | No tax on capital gains for gifts of shares to charities |
| Tax credit at 50% | $5, 000 | $5, 000 |
| Net tax savings | $4, 000 | $5, 000 |
| Net cost of Gift | $6, 000 | $5, 000 |
For simplicity and illustration purposes, we will use 50% as marginal tax and tax credit rates for donations through this example. Actual results may vary depending on your marginal tax bracket. The scenarios above compare tax advantages assuming you benefit from the complete elimination of taxes on capital gains.
*The McCord Stewart Museum does not provide financial or legal advice. We invite you to consult your broker to ensure that the option you choose reflects the particularities and legal or tax provisions applicable to your situation
McCord Museum Foundation registration number: 136358397 RR 0001
For further information
Pierre Poirier, Senior officer
Annual campaign and planned giving
514-861-6701, ext. 1237
fondation-mccord@mccord-stewart.ca