Baycrest donor Oscar Zimmerman is urging others to think about giving a gift of securities as they consider how to structure their charitable giving in the future.

“It makes so much sense, and I suspect many people are not aware that this option exists,” said Zimmerman.

When he and his wife, Dr. Anna Day, decided to make a charitable gift to Baycrest recently, they wanted it to have as much impact as possible.

Rather than selling a stock, paying capital gains tax on the appreciated value and then donating what was left, they transferred the stock directly to Baycrest Foundation. As a result, Baycrest received a larger gift because no capital gains tax had to be paid on the appreciated value.

In addition, the couple received a charitable donation receipt for the full market value of their gift instead of for a lesser after-capital-gains-tax amount.

Zimmerman and Day have directed their donations to Baycrest’s most pressing needs through an endowment fund named to honour Day’s parents, Hy and Layah Day.