Charitable Investment Accounts

Why Securities?

Donating securities is the most tax-effective way to give. We gladly accept gifts of stocks, bonds, mutual funds, and other securities. The tax benefits of donating securities are far greater than the tax benefits of donating cash (credit card and cheque). There are two options available: you can either transfer the securities in kind and hold them in a Charitable Investment Account for future sale and disbursement, or transfer the securities in kind and sell them for immediate disbursement.

How it's done (to open a Charitable Investment Account):

  1. Instruct your advisor to contact us:
    Mike Todd, Director of Charitable Investment Programs
    mike.todd@chimp.net
    778-331-0583
  2. We send them an Investment Policy Statement and Fee Schedule.
  3. We send you a questionnaire and Account Agreement for you to sign and return to us.
  4. We open a Charitable Investment Account with your advisor, and you'll sign a transfer form to move your assets into it.
  5. Sign up for a personal CHIMP Account if you don’t have one already. 
  6. When the securities are received, your donation will be logged in our system and a tax receipt generated. You can work with your advisor to continue investing your assets.
  7. Let us know when you want to send funds to a charity. We'll sell some or all of your assets and make the funds available for allocation through your CHIMP Account.

How it's done (for immediate sale & disbursement):

  1. Fill out a Letter of Direction that your broker provides you (or download this one). 
  2. Send a copy to your broker who will initiate the transfer of securities.
  3. Send a copy to us at CHIMP at hello@chimp.net
  4. Send a copy to CHIMP's broker:
    Julia Cheng, RGMP StennerZohny Investment Partners 
    julia.cheng@richardsongmp.com
    604-678-3650
  5. Sign up for a personal CHIMP Account if you don’t have one already. 
  6. When the securities are received, they will be sold as soon as possible. The proceeds resulting from the sale will then be deposited into your personal CHIMP Account. 

Eligibility requirements

Not all investments qualify for this tax benefit and are eligible if they are:

  • Capital property in the hands of donor
  • Shares
  • Rights and debt obligations (typically bonds or debentures) that are listed on a prescribed stock exchange
  • Shares of a Canadian public mutual fund corporation and units of a mutual fund trust
  • Interests in a segregated fund trust
  • A bond
  • Debenture
  • Note or mortgage of the Canadian federal or provincial governments

Note:

Prescribed stock exchanges generally include the Toronto Stock Exchange, TSX Venture Exchange, Montreal Exchange and most major foreign stock exchanges such as New York and NASDAQ.

Contact us with any questions at  hello@chimp.net.

Still need help? Contact Us Contact Us