CCMBC (through the administration of CCMBC Legacy Fund), is pleased to facilitate gifts of securities to our Mennonite Brethren ministries. This is a no-fee service we provide for those individuals wishing to support the ministry and receive a charitable receipt for their donation.
Steps in the gifting process:
1. The donor would complete the Charitable Donation of Publicly Traded Securities form and forward it to their broker or financial advisor to have the transfer made to our brokerage account. The donor should also fax a copy of the form to our office because our broker does not get information regarding the donor or donee.
2. When we receive notice of receipt of a Gift of Securities from our broker and a copy of the Charitable Donation of Publicly Traded Securities form from the donor, we issue a receipt to the donor. Generally, the receipt is for the market value of the shares at the close of the day the securities were deposited into our brokerage account. Please note that donations received on January 2nd cannot be receipted for the previous calendar year. As the transfer can take some time, donors should be aware of this and initiate the transaction early enough to ensure the donation is in our account by December 31st if receipting is a concern.
3. We sell the shares immediately without contacting the donee and disburse the funds.
4. When the shares have been sold, and CCMBC receives the funds from our broker, we issue a cheque to the named charity for the sale value of the shares less the broker’s administrative fee (if charged).
For more information and/or if you are interested in donating securities, please contact: