The Presbyterian Church in Canada will receive gifts of securities for any PCC congregation or ministry. So, if your congregation doesn’t have its own stockbroker, you can donate through the PCC’s stockbroker.
At your direction, your broker will electronically transfer your securities to the PCC brokerage. The PCC’s broker then sells the stock very soon after receiving the transfer. Based on the fair market value of the stock on the day it was donated, the PCC issues you a charitable tax receipt. The PCC then directs the proceeds of the sale (reflecting any change in value from date of sale minus the broker fees) to whatever PCC congregation, program, or ministry you wish.
It is the policy of the church to sell the securities as soon as possible. The proceeds from the sale (less any stock broker fees) are then immediately directed to the ministries you want to support (your home congregation, PWS&D, a church camp, Presbyterians Sharing). The PCC does not charge any fees for offering this service and tax receipts are sent shortly after the securities are processed.
Giving securities can take time. While the process of donating securities can take as little as 2 weeks from receiving the transfer until the congregation or ministry receives the funds, it can take as long as 4-7 weeks, as some securities take longer to process. Some brokerages may also take awhile to transfer securities, so be sure to check with yours before sending.
Year-end Gifts. To receive a tax receipt of the current year, the securities must be in the PCC stock account on or before Dec 31 of the same year. However, if you are giving to a congregation or external ministry (Evangel Hall, ARISE, a ministry with Indigenous people) and you want them to receive your gift before Dec 31, the securities should be in the PCC stock account by Dec 1 or the congregation or ministry may receive the funds in January.