The Benefits of Giving Securities
Donating securities can be a tax-efficient way to support charities like The Free Methodist Church in Canada and any of its churches, camps, ministries, and partners. It also may offer other benefits such as tax savings at the time of donation. Donating Securities:
- Allows you to amplify the impact of your gift
- You pay no tax on the capital gains that have accumulated on the securities
- You receive a charitable tax receipt for your donation
- Your donation of securities can support/expand your local church or camp ministry, support a specific project, fund international missions projects, cover your Child Sponsorships, and more. The impact is both immediate and lasting.
FMCIC strongly recommends you seek the professional services of a lawyer, accountant, or financial advisor to ensure that your financial goals are considered, your tax situation reviewed, and your planned gift tailored to best fit your circumstances
How to Donate Shares
To donate securities to any of our FMCIC Churches, Camps, Ministries and/or partners, you can follow these steps:
- Download the fillable form provided by FMCIC
- Fill out the form with your personal information and details of the securities you wish to donate.
- Send a copy of the filled form to your financial advisor
- Send a second copy of the filled form to Sandy Crozier at sandy.crozier@fmcic.ca
Sharing Your Shares
The benefits of gifting shares, funds and other securities
| Gifting of your shares directly to a charity | Sale of shares and gifting of proceeds | |
|---|---|---|
| Value of Shares/Proceeds of Sale | $50,000 | $10,000 |
| Original Cost of Shares | $10,000 | $10,000 |
| Gross Capital Gain | $40,000 | $40,000 |
| Taxable Portion of Capital Gain | $0 | $20,000 (50% of Gross Capital Gain*) |
| Tax Bill to be Paid | $0 | $10,000 |
| Gift to Charity | $50,000 | $40,000 net of taxes |
| Gift tax credit | $25,000 | $20,000 |
| Cost to Donor (includes tax credits) | $25,000 | $40,000 |
*actual amount depends upon tax bracket and province of residence.
Additional Notes:
**other taxes
***All figures are approximate. This information is not intended as legal or financial advice. We encourage you to consult a qualified professional to discuss tax-efficient ways to include a legacy gift in your estate.
Useful Legal Information
LEGAL NAME: THE FREE METHODIST CHURCH IN CANADA
ADDRESS: NATIONAL MINISTRY CENTRE
5 INTERNATIONAL BLVD., ETOBICOKE, ON M9W 6H3
CRA CHARITY #: 107406316 RR 0011
For more information, please email support@fmcic.ca or call 905.848.2600
FMCIC’s policies do not allow FMCIC or its employees to serve as personal representatives, executors, trustees, or witnesses or a Will or Trust that includes a gift to one of our FMC churches, camps, ministries and/or partners.
FMCIC strongly recommends you seek the professional services of a lawyer, accountant, or financial advisor to ensure that your financial goals are considered, your tax situation reviewed, and your planned gift tailored to best fit your circumstances.
