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.