Please review the following options for supporting students at Woodsworth.
Major Giving: with a minimum gift of $25,000, an endowed, named award can be established in perpetuity. The College staff will work with you to ensure that your award criteria best meets your wishes and those of the students who will benefit.
Annual Fund: Your continued support for general activities at the College is greatly appreciated and welcome. You will receive mailings during the year and we hope you will continue to support the College through this appeal.
Presidents’ Circle: Giving at least $1,827 annually entitles you to membership in the Presidents’ Circle. Please visit the website or call 416 978-3810 (toll-free 1-800-463-4068) for information about the program. Membership in this unique program entitles donors to attend exciting and interesting lectures and cultural events as well as an invitation to the annual Presidents’ Circle Garden Party.
Life Cycle Gifts: Please think of the College when recognizing an important milestone in your life. An “in honour of” or “in memory of” gift provides funds to support annual activities at the College.
Gift Planning: Gift Planning is a form of giving which provides the donor with affordable options to arrange a substantial current or future gift. Gift options are designed so that you, the donor can realize your philanthropic objectives while maximizing tax and other financial benefits. Gift options include: bequests, registered retirement funds, stocks and securities, gifts-in-kind, charitable remainder trusts, gifts of residual interest and life insurance. Over the years, these gifts have created endowed scholarships and helped fund the general operations of the College.
Donating publicly traded stock and securities is a tax-smart way to support Woodsworth College. You will receive a tax receipt for the full appreciated value of a donation of publicly traded stock or securities and you will not be subject to any capital gains tax.
Eligible securities include shares, debt obligations or rights listed on a prescribed stock exchange, a share of the capital stock of a mutual fund corporation, a unit of a mutual fund trust, an interest in a related segregated fund trust or a prescribed debt obligation.
The simplest way to make your gift of stock or securities is to have the shares electronically transferred from your account to university’s account. Staff in the Office of Gift Planning will help guide you through the process and provide any necessary information. The receipt value will be based on the closing trading price on the day the university receives delivery of the shares. As with any gift, you may designate the use of the value of the securities or leave the gift unrestricted.
The benefits of making a gift of stock or securities:
Capital gains tax on publicly listed stocks and securities are exempt when you donate your shares to Woodsworth College rather than selling and donating the proceeds (see example below).
The value of your tax receipt will be based on the market closing price on the day the university takes legal receipt of your stock or securities into our brokerage account.
You may claim charitable donations up to 75 per cent of your net income, and a five year carry-forward on any unused donation amount is permitted.
Example of the exemption of capital gains tax on gifted securities:
Ms. Donor decided to support Woodsworth College with a gift of $100,000. When reviewing whether she should sell her shares in a publicly-listed corporation and then donate the cash proceeds or donate the shares directly, Ms. Donor learned that she would have a greater net tax benefit by donating the shares directly to the College. The chart below assumes a tax rate of 50 per cent.
|Tax Savings by Making a Gift of Appreciated Securities*||Sell Shares and Donate Cash Proceeds||Donate Shares Directly|
|Fair market value||$100,000||$100,000|
|Tax credit *||$50,000||$50,000|
|Tax on gain *||$20,000||$0|
* Assuming tax rate of 50% for ease of illustration
An information kit on making gifts of stock and the related notification forms can be forwarded to you or your broker.
This information is general in nature, does not constitute legal or financial advice and should not be relied upon as a substitute for professional advice. We strongly encourage you to seek legal, estate planning and/or financial advice before deciding upon your course of action.