Frequently asked questions
How do I donate gift of securities?
- Complete the Gift of Securities Transfer Form and forward it to L’Arche Canada Foundation by email at firstname.lastname@example.org OR by fax at (905) 884-4819 “Attention – Donations Department”. Please ensure that a copy of the form is forwarded to the broker/investment adviser who will be responsible for the transfer to L’Arche Canada Foundation.
- Instruct broker to transfer securities to L’Arche Canada Foundation’s BMO Investor Line Account #214-48442-10, DTC# 5043, FINS #T009, CUID #NTDT. Please do not transfer securities without first forwarding attached form to L’Arche Canada Foundation
How long does this process take?
Once the security has been transferred to L’Arche Canada Foundation’s broker account, it is policy that it will be sold immediately. When the security is sold there will be a 1-3 day period before the net proceeds are sent to L’Arche Canada Foundation’s account. As per CRA rules, L’Arche Canada Foundation will issue a charitable tax receipt to the donor for the full market value of the security at the closing of trading on the same day as receiving the funds into our account from the broker.
What types of securities can I donate?
L’Arche Canada Foundation will accept donations of publicly traded securities.
Are flow through shares accepted?
As long as the shares have a Committee on Uniform Securities Identification Procedures (CUSIP) number and are publically traded, the process for donating flow through shares is the same as regular traded shares.
What are the benefits of donating gift of securities to L’Arche Canada Foundation?
If one sells a security, they pay tax on 50% of the capital gain. However, when donating gift of securities to L’Arche Canada Foundation, the taxable capital gain is completely eliminated. A tax receipt will be issued for the full market value of the security in the amount of the closing trading price the day that it was received in L’Arche Canada Foundation’s broker account. All securities are sold within 1-3 business days as received by L’Arche.
When will I receive my tax receipt?
The tax receipt is issued once L’Arche Canada Foundation receives the deposit for the sale of the security from the broker. This is typically within 10 business days of the date that the securities were received in L’Arche Canada Foundation’s broker account.
Where can I find out more information about gift of securities?
Information regarding securities and tax receipting can be found at www.cra-arc.gc.ca or