Donations of Securities Terms and Conditions
Please read carefully. You agree to abide by these terms and conditions in your donation of securities.
CanadaHelps only accepts publicly traded securities. Your donation must be of securities that are traded or exchanged on a public market in Canada or the United States. This includes stocks, bonds, and mutual funds, but excludes shares in a private corporations and stock options.
Your donation depends on you sending your broker the letter of direction to transfer your securities.
You must send the Letter of Direction to your broker to have the securities transferred. Neither CanadaHelps, nor our broker can initiate the actual transfer of securities from your account. In order to complete the transaction, the Letter of Direction generated for you by CanadaHelps website must be printed, signed by you, and sent to your broker.
The value of your donation is based on the day that your donated securities are received in CanadaHelps brokerage account.
According to the guidelines of the Canada Revenue Agency (CRA), the actual value of your donation for tax receipt purposes will be determined on the day that your donation is received in the CanadaHelps brokerage account. The valuation will be determined by the closing bid price for the donated securities on the same day the securities are received in our account. As a result fl uctuations in market value should be expected between the time you initiate the transfer and the valuation determination.
It may take some time for yuor donation to be received in the CanadaHelps brokerage account. It may take several days for donations to be received by CanadaHelps, and for some types of securities (such as mutual funds), it may take several weeks before they are transferred to the CanadaHelps brokerage account. Again, as a result, fluctuations in market value should be expected between the time you initiate the transfer and the valuation determination. Please keep this timing in mind especially when making end-of-year donations for tax purposes.
You will only receive a tax receipt once your donation has been received by CanadaHelps and valued. Because of the potential aforementioned delays in the actual transfer of securities, and because of market volatility between the time of your transfer and the time of their receipt in our brokerage account and close-of-market valuation, you will only receive your tax receipt after your securities have been received in the CanadaHelps brokerage account, and then subsequently valued based on closing bid price.
CanadaHelps is not responsible or liable for the actions of donors and.or their representative brokers. CanadaHelps is not responsible for the securities donated to us until we have possession of them. CanadaHelps possession of securities occurs once the securities are received in our brokerage account. We rely upon your timely execution of the Letter of Direction to your representative broker, and on your broker’s timely execution of the transfer of the securities to our broker.
CanadaHelps will sell all securities received in as timely a manner as possible. CanadaHelps does not retain securities in our possession. Our broker is instructed to sell all received securities immediately, or if it is not possible to sell the securities immediately (such as due to market liquidity), then to sell the securities in as timely a manner as possible. CanadaHelps does not receive or act upon instructions from any other party in terms of holding or selling securities.
Your transfer of securities may be subject to transaction fees assessed by your broker. The donation of securities is a transfer of ownership, and is subject to whatever fee structure you have in place with your broker for transfers. CanadaHelps will not bill you for any transfer fees.
CanadaHelps charges a small transaction fee on all donations. CanadaHelps is a self-funded, registered Charity. We assess a small transaction fee on all donations.
The bulk of this fee covers the broker and banking fees we incur processing your donation. The remainder goes to CanadaHelps to enable us to continue to serve Canadian donors and charities.
Information you will need to complete your direct investing firm’s letter of direction form: if you work with a Direct Investing platform such as TD Waterhouse Direct Investing, Scotia iTrade, RBC Direct Invest, or QuestTrade, you will also need to complete the Letter of Authorization/Direction Form available from your Direct Investing firm.
Here is the information you may be required to provide:
Account #: 4393234622
Account Name: CanadaHelps CanaDon
Dealer #: 9155
Rep #: 363
Contact Name: Michael R. Chisholm
Contact Email: Michael.firstname.lastname@example.org
Contact Phone: 905-337-5782 or 1-800-667-2804
Contact Fax: 905-842-9001
Scotia Capital Inc.
Box 4085, Station “A”
Toronto, ON, M5W 2X6