The QEII Foundation welcomes gifts of stock / publicly traded securities. The federal government has created special incentives to encourage such gifts by eliminating the Capital Gains Tax. Capital gains are no longer included in income when a donation is made to a charity of a publicly traded security.

The process for giving a gift of stock:

1. The donor contacts the QEII Foundation to express an interest in giving a gift of stock. The Foundation determines the intent of the gift along with the relevant information for issuing a tax receipt.
2. The Foundation contacts BMO Investment Services with the particulars of the proposed gift.
3. The donor or advisor is contacted by Shari Craig, Trust and Investment Services Administrator, BMO. Her number is (902) 421-3255.
4. The donor or his or her brokerage firm forwards the stock certificate or electronic information to BMO and the value of the gift is determined.
5. On receipt of the shares, they will be sold. Verification is then given to the Foundation from BMO by fax and phone concerning the amount of the tax receipt.
6. The Foundation produces the receipt and letter of acknowledgement and forwards it to the donor.

For Example:

Let’s imagine that you would like to donate $7,000 to the QEII Foundation and you also happen to own 200 shares of a Canadian public company, now worth $35 each, totaling $7,000. The adjusted cost base (i.e. the actual cost of an investment to you) of these shares is $1000. By donating your shares instead of selling them and giving the sales proceeds, you will avoid any capital gains tax and receive a receipt for the full $7000 donation.

Call the QEII Foundation at (902) 473-7932 or contact your financial advisor to find out more.