Make an eternal impact in the life of a family
Donating Shares, Stocks, or Mutual Funds
Donate Shares to Tearfund Canada
Download and fill the form below to instruct your financial advisor or investment institution to transfer the securities you wish to donate.
Frequently Asked Questions
What is Tearfund's Account Information?
Securities can be transfered to Tearfund Canada’s account as follows:
Account Name: Tearfund Canada
Account No.: 58764011
CIBC Investor’s Edge
800 Bay Street, 2nd Floor
Toronto, ON M5S 3A9
Tearfund’s Charitable Number: 10822 2191 RR0001
What are the benefits of Donating Securities?
A donation of shares, stocks, or other securities is one of the most tax-effective ways to give. If you sell the securities, you will pay tax on 50% of the capital gain. In contrast, by donating the securities directly to a charity (instead of selling them and donating the cash) you will incur no tax on the capital gain. Furthermore, you will receive a charitable receipt for the full market value of the securities on the day of transfer.
What Stocks, Bonds, or Shares Qualify?
Any publicly traded security, whether it is a stock or bond, that trades on a stock exchange recognized by Canada Revenue Agency (CRA). This includes the TSX & TSX Ventures in Canada, the NYSE, AMEX, and the NASDAQ. Many foreign exchanges also qualify.
Mutual funds are considered publically traded securities even though they do not trade on stock exchanges and qualify for donations by the CRA as well.
You can only donate securities that are held in a non-registered investment account. Investments held in a registered account (RRSP or RRIF) do not qualify for these tax savings. Capital gains on investments held in tax-free savings accounts are already tax-exempt and likewise will not generate the same tax savings.
How is the donation receipt value calculated?
A receipt will be issued for the value of the securities on the day the transfer is received in Tearfund’s brokerage account. The value will be determined by the closing price, or the average of the high and low trading price, whichever calculation yields the higher receipt value. For mutual funds, which are priced once a day, the daily closing price will be used.
When the securities have been transferred to Tearfund Canada’s brokerage account, we will place an order to sell them. It can take a few days to several weeks from the time you initiate the transfer until the securities arrive, therefore the amount you are receipted for may be different from the value of the shares on the day you initiate the transfer.
Your donation receipt will show the value of the securities on the day the securities are received in Tearfund Canada’s account.
Tearfund Canada subscribes to the Seal of Financial Accountability as a certified member of r the Canadian Centre for Christian Charities (CCCC). This seal is subject to their requirements and recommendations according to an annual review.