See the fruits of your generosity — today

A gift of shares is one of the most tax-effective forms of philanthropy
May 18, 2016
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By Silvia Ugolini

One of the highlights of my job is meeting people from all milieux. Their unique life journeys are often tied to their motivations for giving and how they intend their gift to be used.

When someone decides they want to leave a gift for an institution — to support student bursaries or research, for example — it says something about their values.

This is a part of how a legacy could be created through a planned gift.

Dorothy Mikalachki, BA 59, first wanted to make a bequest to her alma mater in her will. Her support would create an endowment to fund an annual bursary — the Dorothy Martin Mikalachki Student Award — in perpetuity.

“Al and I were always savers,” said Dorothy of her late husband, Al Mikalachki, BComm 58. “Since he passed on, I have used our money to help others.”

Mikalachki then decided that she wanted to see the fruit of her donation today. To achieve this, she made a gift of shares — one of the most tax-effective ways to give.

As Mikalachki said to me, it was an informed decision. Her son works as an investment manager and described the benefits of making a donation of shares. They include significant tax savings — all the while supporting a charitable organization. It’s often seen as a win-win way to give.

Here’s why: By gifting your shares to a registered charity instead of selling them, you benefit from an exemption of the capital gains taxes you would normally pay. In addition, you receive a donation receipt equivalent to the entire value of the shares. Your chosen charity benefits from the full value of your donation.

To learn more, call your financial planner or contact me. 

Silvia Ugolini Silvia Ugolini

About our expert 

Silvia Ugolini works with accountants, lawyers, notaries, trust officers, insurance advisors, investment professionals and financial planners to help people attain their personal, commercial and philanthropic objectives. 

Silvia is Principal Director, Planned Giving at Concordia. She can be reached at silvia.ugolini@concordia.ca or 514-848-2424, ext. 8945.



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