Baycrest donor Oscar Zimmerman is urging others to think about giving a gift of securities as they consider how to structure their charitable giving in the future.
 
“It makes so much sense, and I suspect many people are not aware that this option exists,” said Zimmerman.
 
When he and his wife, Dr. Anna Day, decided to make a charitable gift to Baycrest recently, they wanted it to have as much impact as possible.
 
Rather than selling a stock, paying capital gains tax on the appreciated value and then donating what was left, they transferred the stock directly to Baycrest Foundation. As a result, Baycrest received a larger gift because no capital gains tax had to be paid on the appreciated value.
 
In addition, the couple received a charitable donation receipt for the full market value of their gift instead of for a lesser after-capital-gains-tax amount.
 
Zimmerman and Day have directed their donations to Baycrest’s most pressing needs through an endowment fund named to honour Day’s parents, Hy and Layah Day.
 

“We appreciate what Baycrest has done for our family, and it’s nice to give back in this way to help a good cause.”

Find out more about how to give a gift of securities here. To download the Transfer of Shares form, please click here.