CRA Accepts Gifts of Appreciated Stocks, Bonds, and Mutual Funds
In addition to cash donations, the CRA also accepts gifts of stocks, bonds, and mutual funds (“securities”). A gift of appreciated securities could offer significant benefits to you, such as an immediate charitable deduction for the full market value of the stock and avoidance of capital gains taxes that would normally be due upon sale.
How to give stock and other securities to the CRA:
Instruct your broker to transfer shares to the Coast Range Association (our federal tax id number is 93-1066629)
Provide your broker with this transfer information:
- Registration: Coast Range Association
- Account No.: Z40-245192
- DTC: 0226
- Firm: Fidelity Investments
Contact Andrew Collins-Anderson, firstname.lastname@example.org, to notify us about the number and type of shares you are donating.
Possible Benefits – for specifics please consult your tax advisor
- Receiving an income tax deduction for the fair market value of the stock gift on the date transferred to the CRA (there could be limitations for securities held less than one year)
- Paying no capital gains tax on the appreciated stock
Definite Benefit – Making a huge impact for the CRA without reducing your on-hand cash
An important note on depreciated stock – for specifics please consult your tax advisor
If you own stock that is now worth less than when you purchased it, consult your tax advisor about the possible advantages of selling the stock yourself, donating the proceeds to the CRA, and claiming a capital loss on your tax return.