To receive a 2024 tax receipt, gifts of stock needed to be in the PCC's brokerage account by December 31, 2024. We expect the same to be the case for subsequent years as well. We advise donors to make their donations as soon as possible, in case there are any issues with the transfers.
The PCC makes 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 2025 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 2026.
**Remind donors to email plannedgiving@presbyterian.ca a copy of completed donation form which is available by clicking the DOWNLOAD button at the bottom of this page. Unidentifiable donations delay your gift being sent to the congregations and ministries.**
In December 2024, Scotia McLeod offered a commission-free week December 2-5, 2024. We would also expect to see this in future years. During this time, they sold 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 had to 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 were not eligible. Anyone wishing to donate more than $10,000, could donate different stocks as long as each was valued under $10,000.
Securities donated prior to December 2 could be sold during the commission free week, with the donor’s instructions. The receipt still reflected the market value of the stock on the day the securities were deposited into the PCC account, and the beneficiary received 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.
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