Give and Gain: Maximize Your Impact with Year-End Donations

As we approach the culmination of another year and the season of gratitude and giving, the Westlock Community Foundation invites you to consider making a lasting impact through philanthropy. In partnership with Leith Wheeler Investment Counsel Ltd. (Leith Wheeler), we're introducing a streamlined approach to giving that not only benefits the community but also offers strategic advantages for donors, especially as tax planning becomes a focal point.

Simplified Giving: The Donation Portfolio

To facilitate your generosity, we've collaborated with Leith Wheeler to create a 'Donation Portfolio'. This innovative platform allows for seamless transfers of both cash and securities donated in-kind, accommodating donations from various financial institutions. Whether you're passionate about supporting local initiatives or wish to make a more significant impact on a cause close to your heart, this platform is designed to make your giving experience more straightforward and effective.

Making a Difference, Maximizing Benefits: Tax-Advantaged Giving

As you navigate your year-end tax planning, consider the substantial benefits of donating securities instead of cash. This strategy not only enhances the impact of your donation to the Westlock Community Foundation but also provides a considerable tax deduction for you as the donor.

Eliminating Capital Gains Tax: A Win-Win Scenario

When you donate securities with embedded capital gains, you contribute to the community while simultaneously eliminating a layer of tax on your end. This approach ensures that both the charity and the donor reap maximum benefits from the contribution.

Navigating Mutual Fund Transfers: Avoiding DSC Penalties

For those considering mutual fund contributions, transferring units to a charity can be a savvy move. By doing so, you may avoid triggering deferred sales charge (DSC) penalties, benefiting both you and the charity. Leith Wheeler, as our partner, does not charge DSCs, ensuring a smooth and cost-effective transition of units to support your philanthropic goals.

Financial Planning Wisdom: Mitigating Estate Tax and Diversifying Portfolios

Beyond the immediate impact on the community, gifting securities with substantial capital gains can be a strategic step in reducing your estate tax obligations. Furthermore, this approach provides a cost-effective means to de-risk and diversify your portfolio, helping to minimize concentrated positions and enhance your overall financial strategy.

Your Questions Answered: Let's Start a Conversation

If you're considering making the Westlock Community Foundation a part of your giving strategy – whether at year-end or any time of the year – we are here to assist you. Feel free to reach out with any questions, and let's explore how your generosity can create a lasting legacy while optimizing your financial plan.

This holiday season, let your giving be a source of joy not only for those who benefit from your generosity but for you as well. Together, let's make a difference and maximize the impact of your year-end donations.

Source: Leith Wheeler Investment Counsel Ltd.

See Leith Wheeler's Post “The Benefit of Gifting Shares” for more details on the information above: https://www.leithwheeler.com/resources/insights/the-benefits-of-gifting-shares