ASC Expands Fundraising Capacity by Accepting Donations of Securities

ASC Expands Fundraising Capacity by Accepting Donations of Securities

ASC Expands Fundraising Capacity by Accepting Donations of Securities

St. Francis shares his mantle

Note: The information in this article is for convenience only. Nothing in this article is to be taken as financial advice. Please consult your investment or legal professional for specific advice relative to your situation.

 

On October 15, the ASC received a donation of securities in the form of stocks in a Canadian company. This landmark milestone represents an evolution of our capacity to offer our donors more flexibility in gift planning and bequests. It all began some months ago, when Council resolved to expand our capacity to receive gifts by opening a securities trading account. The sole purpose of this account is to enable the receipt of donated securities (stocks, bonds, etc.).

Flexibility

Donors are often faced with decisions to make regarding the source of their donation (cash, securities, real property etc.). Up to this point, cash was the only monetary option for gifts to the ASC. There may have been cases where donors sold securities to generate that cash. This can invoke capital gains tax. Now an alternative is available: the stocks themselves can be gifted to the ASC.

Valuation

Upon receipt, ASC establishes the value of the donated securities by immediately selling them on the open market. This provides a “fair market value” for issuing a tax receipt in the same amount and eliminates any market speculation by the ASC (for example by holding the securities and guessing at the best time to sell). On the donor’s side this provides not only the possibility to manage the impacts of capital appreciation described above, but also provides a tax-deductible receipt as an additional benefit.

Council is pleased to provide the possibility of securities as donations or bequests in support of the Anthroposophical Society in Canada. Please reach out to any of us if you would like to confidentially discuss this further in the light of your own unique situation.

John Glanzer, Treasurer

Anthroposophical Society in Canada