Baycrest donor Oscar Zimmerman is urging others to consider making a gift of securities when planning their charitable giving.

“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 recently, they wanted to maximize their impact. Instead of selling stocks, paying capital gains tax on the appreciated value, and donating the remainder, they transferred the securities directly to the Baycrest Foundation. This way, Baycrest received a larger gift because no capital gains tax was due.

Donors also receive a charitable donation receipt for the full market value of the securities—rather than a reduced amount after tax—which can provide valuable tax benefits. The Canada Revenue Agency provides detailed guidance on how donating securities can help donors minimize capital gains tax while maximizing their charitable impact (learn more here).

Zimmerman and Day have directed their donations to Baycrest’s most pressing needs through an endowment fund established in honour of Day’s parents, Hy and Layah Day. By choosing this method of giving, they ensure their generosity supports innovative research and essential programs focused on brain health and aging.

If you’re interested in learning how a gift of securities can benefit you and Baycrest, please contact the Baycrest Foundation or visit our charitable giving options page to get started.