Yes, the UNF Foundation will only accept gifts of securities valued at $1,000 or more. This limit reflects the high cost of processing this type of gift to both the donor and the UNF Foundation due to costs such as the brokerage commission and market changes.
In addition, please note that a minimum of $1,000 must remain with the UNF Foundation. We value all donations and request that donors wishing to give a gift that is less than $1,000 do so by visiting CanadaHelps, by cheque or by personal visit.
The UNF Foundation sells the securities immediately upon receipt. You will receive a gift-in-kind charitable tax receipt for the closing price of the security on the day that it is received in the UNF Foundation’s account.
Your tax receipt is issued and available once the UNF Foundation receives the cheque for the sale of the security. This is typically within 10 business days of the date that the securities are received in the UNF Foundation’s account.
Share certificates can be donated in the donor’s name or transferred to the UNF Foundation’s name.
If donated in the donor’s name, the certificates must be signed and a photocopy of the front and back of the donor’s driver’s license or a signature guarantee on the certificate from the donor’s bank included, along with a letter from the donor directing the certificates to The UNF Foundation. Please contact The UNF Foundation at 416-925-2770 for more details.
As long as the shares have a Committee on Uniform Securities Identification Procedures (CUSIP) number and are eligible for sale on a Canadian and certain foreign stock exchange, the process for donating flow through shares is the same as regular traded shares. Please contact The UNF Foundation at 416-925-2770 for more details.
Yes, but this type of donation will be handled as a cash donation and will not benefit from the capital gains tax exemption applied to a gift of securities.
Yes, typically the processing time to transfer the share from a discount broker can take up to ten business days. In the case of mutual funds, the process can take longer. Please contact The UNF Foundation at 416-925-2770 for more details.
Exchangeable shares can be donated directly to The UNF Foundation (typically in certificate form) or donated after they are exchanged.
If the shares are donated directly, The UNF Foundation’s broker will exchange them for shares of the underlying company, which could take up to one week. The donor is receipted based on the closing price of the underlying shares on the date the exchange is complete. If the shares are exchanged prior to donation to the UNF Foundation, the process is the same as any other share and the donor will receive a gift-in-kind charitable tax receipt for the closing price on the day that the shares are received in the UNF Foundation’s account.
As the cost of the processing securities is greater than with other types donations, a minimum gift of $1,000 must remain with The UNF Foundation.
The UNF Foundation is only able to distribute the net proceeds from the sale of a gift of securities, which reflects the selling price minus the brokerage fees. This may be different from the receipted amount.
If you wish to donate a specific gift amount to the UNF Foundation’s General Fund that exceeds what is available for distribution based on the net proceeds, you may “top up” your donation to compensate for any shortfall arising from a loss/fees on the sale of the securities.
The UNF Foundation is fortunate to have relationships with all of the major brokerages in Toronto. Please contact The UNF Foundation at 416-925-2770 for more details.