Donating securities is an impactful and tax-efficient way to give. By donating publicly listed securities to 411 Seniors Centre—as opposed to selling them first and donating cash proceeds—you yo can avoid capital gains tax, receive a charitable tax receipt for their fair market value, and make a bigger difference in the lives of seniors.
How to proceed
Step 1: Work with your financial advisor to determine which investments will have the greatest philanthropic and financial impact for you to donate, then contact Vancouver Foundation’s Donor Services department (604) 688-2204 to verify they can accept what you’ve chosen. (All donations of securities are processed through our fund held at the Vancouver Foundation.)
Step 2: Have your financial advisor complete the attached Authorization and Direction Form for your signature. Once completed, send a scanned copy of the form to Vancouver Foundation securities@vancouverfoundation.ca
Step 3: Have your financial advisor INITIATE the transfer of securities. Because the transfer is a charitable donation, Vancouver Foundation’s investment broker cannot initiate the transfer.
What happens after the transfer
Vancouver Foundation, on behalf of 411 Seniors Centre, will issue a donation receipt for the value of the securities based on the last quoted trading price in normal trading hours on the date the securities are received into Vancouver Foundation’s brokerage account. Please note that the market will, in all likelihood, have moved either up or down between the time you give the instructions to transfer and the time Vancouver Foundation receives the securities.
Once the securities and the completed Authorization and Direction form are received by Vancouver Foundation, the securities will be sold as soon as possible and the proceeds deposited into our 411 Vancouver Foundation Fund.
Please be aware that it is very difficult, if not impossible, to transfer securities in the last weeks of December. You can avoid this problem by planning well in advance.
Thank you for considering a gift to benefit seniors in your community!
If you have any questions or require further information, please contact 411 Seniors Centre donations@411seniors.org (604) 684-8171 ext 113 or Vancouver Foundation Donor Services department (604) 688-2204