Scotia McLeod is offering a commission-free week December 2-5, 2024. During this time, they will sell stocks valued under $10,000 CAD or $10,000 USD without charging a commission. (The normal commission is $140 for gifts under $6,000; $175 for gifts between $6,001 and $9,999).
To take advantage of this commission-free offer, securities must be in the PCC account by the end of the day on Thursday December 5, 2024. Multiple sales of the same stock that together exceed $10,000 are not eligible. Anyone wishing to donate more than $10,000, can donate different stocks as long as each is valued under $10,000.
Securities donated prior to December 2 can be sold during the commission free week, with the donor’s instructions. The receipt will still reflect the market value of the stock on the day the securities were deposited into the PCC account, and the beneficiary will receive the proceeds (plus/minus any gain/loss) of the stock sale.
NOTE: Scotia McLeod offers these commission-free weeks quarterly in March, June, September and December. It’s usually the first week of the month, but we never have the exact dates until a few weeks before. Donations can be sent to us around this time and ask that they be held until the commission-free week.
Year End Deadlines for Gifts of Securities
To receive a 2024 tax receipt, gifts of stock need to be in the PCC's brokerage account by December 31, 2024. We advise donors to make their donations as soon as possible, in case there are any issues with the transfers.
We make every effort to help make it as easy as possible to make gifts of securities to Presbyterian congregations and ministries. Some brokerages only transfer at specific times of the month, and while transfers can be made the last week of December, the PCC office closes at noon on December 24 and re-opens on Jan 2, 2025. While we will monitor emails during that week, it is more challenging for us to assist with problems when the office is closed.
The PCC accepts gifts of securities for any congregation or ministry (Presbyterians Sharing, PWS&D, Indigenous ministries etc.) If the donor wants a congregation or ministry to receive it before the 2024 year-end, we strongly recommend they start the paperwork now to ensure the stock is in our account no later than December 15. We do our best to send proceeds from stock donations to congregations as soon as possible, however with year-end volume, proceeds from stocks received after December 15 will be sent to congregations in January 2025.
**Remind donors to email plannedgiving@presbyterian.ca a copy of completed donation form. Unidentifiable donations delay your gift being sent to the congregations and ministries.**
For assistance with paperwork or questions, please feel free to contact:
Maggie Leung
Gifts and Database Administrator
Stewardship and Planned Giving
The Presbyterian Church in Canada
416-441-1111 or 1-800-619-7301 ext. 239