Mr. & Mrs. Smith gave $200,000 from their stock portfolio to help maintain the Presbyterian church in the small town where they were raised.
Although they were living in the Toronto area, they hadn’t forgotten the church community that nurtured them in their faith. Mr. Smith explains, “That’s where we were both baptized and where we attended Sunday School. Our wedding was there, too. It still has a special place in our hearts.” They had been blessed ﬁnancially and wanted to give back to God and the church.
They wanted to anonymously establish a 20-year fund to provide $10,000 a year to support the maintenance of the building for this small rural congregation. The PCC drew up a gift agreement establishing a twenty-year fund to maintain the church building and make needed repairs. The Smiths then instructed their broker to transfer the stocks to The PCC’s broker. After The PCC received the stocks, the Smiths were mailed a tax receipt for the full market value of the stocks; and since the stocks were given directly to the church, all capital gains taxes on the securities were completely eliminated. The PCC has invested the $200,000 and is sending the congregation annual payments. At the end of 20-years, the congregation will receive whatever remains in the fund.
Giving is an important and deeply rooted part of the Smiths’ faith. As children they saw how intentional their families were about giving. Beautiful memorial stained glass windows were given to the same church from their respective families. The Smiths’ gift will ensure that the congregation will continue to have a vital presence in the community so that future generations of children can grow in faith and God’s love will continue to shine brightly on them through the beautiful stained glass windows!
Gifts of publicly traded securities are a tax-smart way to make a gift to the church. Donors giving publicly traded securities directly to charity, pay no tax on the capital gains while also receiving a donation tax receipt for the full market value of the securities. If your congregation does not have a stockbroker, you can use the services of the PCC’s stockbroker.
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For More Information The Stewardship & Planned Giving staff are available to help you turn your philanthropic wishes into reality. To learn how a gift of publicly traded securities or other planned gift can leave a lasting legacy, please contact us
Charitable Registration No. 10785 6619 RT0001
The information on this page does not constitute legal or professional advice and should not be substituted for appropriate professional advice. The Presbyterian Church in Canada strongly recommends that you seek professional legal and financial advice to ensure your financial situation and those of your dependents are considered; that your tax situation is reviewed; and that your legacy gift is tailored to your circumstances.