At the United Way of Greater Victoria, a donation of $10,000 or more is considered a Major Gift. All Major Gift donors have an opportunity to make a significant impact in helping United Way of Greater Victoria carry out its mission.

 

There are a variety of purposes for which Major Gifts are given, including to fund:

 

  • Our Community Impact granting process
  • A United Way specific project, program or service identified by our Community Impact Councils
  • A special innovative initiative led by United Way (i.e. Success by 6)

 

Major Gift donations to United Way of Greater Victoria can be made in a number of different ways including a lump sum payment (cash, cheque, or automatic withdrawals from your bank account or credit card), as well as gifts of securities. There are also tax benefits for Major Gift contributions.

 

For more information please contact Jo Wright, Director Fund development at 250-385-6708, by email at jo.wright@uwgv.ca

 

Gifts of Securities

 

In May 2006′s Federal Budget, publicly listed securities to charitable organizations became exempt from any capital gains tax.

 

The benefits of donating a gift of securities to United Way of Greater Victoria are two-fold. First, you will receive a tax receipt for the fair market value of the securities based on the closing price on the date the securities are received in United Way’s account. Second, your donation is exempt from the capital gains tax that typically applies to the sale of a security which results in an overall tax savings for you.

 

Here is an example of the tax benefits of using securities to donate to United Way:

 

Option 1 Option 2
Sell security and give cash Donate security “in kind” Market value of security
Market value of security $10,000 $10,000
Cost base $ 5,000 $ 5,000
Capital gain $ 5,000 $ 5,000
Taxable capital gain (50%) $ 2,500 $ 0
Tax due on gain at 40%* $ 1,000 $ 0
Tax receipt for gift $10,000 $10,000
Value of tax receipt at 40%* $ 4,500 $ 4,500
Net tax savings $ 3,500 $ 4,500