“I am the vine; you are the branches. If you remain in me and I in you, you will bear much fruit; apart from me you can do nothing.”
John 15:5
Overview
News items and events regarding our Capital Campaign are posted here as well as sources of information and a way to ask questions or make comments by sending an email to campaign2019@stpdunbar.com
Campaign Booklet
This Campaign booklet provides context for our Campaign, an overview of our goals, and tax information regarding various ways to donate while maximizing your impact.
Frequently Asked Questions
Please download this document to explore frequently asked questions regarding the campaign.
Donation of Securities and Related Tax Benefits
If you prefer to donate securities to the campaign, please use this form from the Diocesan Office and coordinate with your Broker or Investment institution. Key points regarding this form:
- Field: Parish, Ministry or Related Group whom the proceeds of these securities should go to:
- Enter "St. Philip's Capital Campaign"
- Field: To (relinquishing institution)
- Enter the name of the financial institution holding your securities
- Field: Number of shares/units or dollar value
- Enter the number of shares/units, a dollar value is not accepted by some institutions.
- Send the completed form to your broker or the financial institution holding your securities.
The advantage of this approach is that in Canada, making your gift by donating listed securities or mutual funds to charitable organizations can eliminate the capital gains tax you would have to pay if you first sell the securities and then donate the proceeds from the sale.
Note that securities donated in this way are sold upon receipt and the Diocesan Office sets the proceeds aside for our Capital Campaign. Also tax receipts for donations made in this way will be mailed to you by the Diocesan Office rather than St. Philip's.
Overhead:
- There are no fees for mutual funds.
- For securities donated in this way, the minimum fee is $100 and the maximum fee is $300 for larger donations.
- Fees, where applicable, are deducted from the proceeds of the sale, after the security is received and sold.
Example: You own shares that you purchased a few years ago for $4,000 and now they are worth $10,000. When you sell them you will have a capital gain of $6,000 and half of the capital gain [$3,000] will be taxable.
Assuming your tax rate is 40%, your tax bill from the sale will be $1,200, but if you donate the shares to a charity, the gift is exempt from the capital gains tax and the total value of your gift is tax deductible, giving you a sizable tax credit and potential refund.
A gift of shares now valued at $10,000 results in the following example of tax savings:
- Donation tax credit 43.7% of $10,000: $4,370
- Capital gains tax savings: $1,200
- Total tax savings: $5,570
In this example, the $10,000 gift of shares resulted in additional tax savings to the donor of $1,200 and when combined with the tax credit provides a total tax savings that is more than the original purchase price of the donated shares.
