The end of the year is just around the corner, which means it’s time to start thinking about tax planning and how to make your charitable giving go further in your community.
Making a charitable donation of publicly traded securities to Delta Hospital and Community Health Foundation is one of the most tax effective ways you can give. With help from donor dollars, the Foundation can continue to fund and promote outstanding healthcare at the Delta Hospital Campus of Care including Irene Thomas Hospice and Mountain View Manor.
As you consider how much to give, you may also want to know how donating can impact your taxes. Here are some things to keep in mind when it comes to year-end charitable giving and the benefits of donating your securities:
- Reduce capital gains tax: Donating appreciated publicly traded securities (stocks, bonds, mutual funds) can reduce capital gains tax.
- Charitable tax receipt: You will receive a tax receipt for your shares' fair market value, which will help you reduce your tax on other income.
- Big impact: Your gift of shares will have an impact on the immediate critical needs at the Delta Hospital Campus of Care and help build a future of exceptional healthcare in our community.
- Timing with year-end: Some transfers can take a few weeks to complete. To take advantage in the 2023 calendar year, transferred shares need to be received by December 31, 2023
How to make a year-end gift of securities to Delta Hospital and Community Health Foundation:
- Talk to your financial advisor
- Complete securities transfer form on the Delta Hospital and Community Health Foundation website.
- Send the form to your broker.
- Let DHCHF know the transfer is in progress by contacting Jodi Stokes at 604-940-9695.
- Receive a tax receipt for the fair market value and reduce your capital gains tax.
Gifts of publicly traded securities can be made towards priority equipment needs. Last year, securities donations funded multiple priorities at Delta Hospital including life saving equipment, innovations in surgical procedures and advancements in senior’s care.
Through donations of securities, Delta Hospital and Community Health Foundation was able to support the ER by purchasing a Lucas Chest Compression system, which delivers CPR to patients in cardiac arrest and a state of the art patient monitoring system. Additionally, securities funded an industry leading Soltive Laser to support prostate procedures for the Surgical Services Department. Donations through securities also helped launch the “Coming Home” capital campaign to transform seniors care in Delta. Your gift of securities can make a difference.
When you consider making a gift of securities instead of cash, you may be able to make a larger gift than you thought possible. Your support through a gift of securities would have a wonderful impact on the many services provided at the Delta Hospital Campus of Care.
For more information, please visit dhchfoundation.ca/ways-to-give/securities.
