Donations of publicly traded securities are virtually immediate. This donation can also be differed if it is left in a will.
Donations of publicly traded securities take various forms:
- Units of a mutual fund
- Other publicly traded securities
There are many advantages to donating securities:
- No capital gains to pay on the appreciation of the market value and the acquisition cost of the securities;
- Tax receipt equal to the market value at the time of the transfer of the securities;
- A quick, simple process that takes a few days.
|-||Sale of securities and cash donation||Don des titres|
|Fair market value||$10,000||$10,000|
|Share acquisition cost||$2,000||$2,000|
|Taxable gain (50 %)||$4,000||$4,000|
|Tax payable on the gain*||$2,000||$0|
|Tax savings on the gain||$0||$2,000|
|Donation tax credit**||$5,000||$5,000|
|Total tax savings||$3,000||$7,000|
|Net cost of donation||$7,000||$3,000|
* To simplify the examples, the tax rate used is 50%.
** The donation tax credit rate has been rounded to 50%. It does not take into account the first $200 of donations or all tax situations.
Giving to the Museum lets me feel that I’m participating in something bigger. The Museum gave me a desire to share: It allowed me a new lease on life, a way of fulfilling myself.
A museum that defies the passage of time
The Museum has defied the passage of time by handing down a love for art and culture across eight generations. The MMFA is a not a government-run museum but non-profit organization, and must maintain a level of self-financing unequalled in Canada, one that accounts for close to 58% of its annual operating budget. In addition, its artwork acquisitions are almost 100% self-financed.
Self-generated revenues and donations
Quebec government support
Claire and Marc Bourgie Pavilion
Photo MMFA, Denis Farley.
What if this Rembrandt masterpiece were not at the Museum?
Donations transform the Museum
In 1949, the Museum received the gift of a masterpiece by the renowned painter Rembrandt. That historic gift was the result of a bequest by Mrs. R. MacD. Paterson, daughter of Montreal banker Richard Bladworth Angus. An avid collector of Old Masters, he gave this emblematic work to his daughter, who later chose to bequeath it to the Museum.
The most beautiful treasures in our collections have to come to us by way of exceptional people making a gift to the Museum in their wills.
In 2016, the MMFA received two significant bequests. The first, from Margarita Ciurana, helped reinstall the international art collections in the recently inaugurated Michal and Renata Hornstein Pavilion for Peace. The second donation, from Ginette Trépanier, made possible the acquisition of a powerful work by the contemporary international artist Jean-Michel Othoniel for this new pavilion. Thanks to these devoted members who had provided for a general donation, the Museum was able to fund these two major projects.
At this time of life, I've come to realize that philanthropy brings me the joy that comes with contributing, however modestly, to the well-being of others and of leaving my mark.