North York General holds a special place in Peter Paterson’s heart. It’s where his father’s life was saved after a massive heart attack in 1977 – giving his family six extra years together. It’s also where his mother spent her final years. Both of his parents passed away at North York General, and in the years that followed, Peter found himself turning to the same hospital for his own care, including treatment and rehabilitation for a severely injured shoulder.
“It’s important to me to say thanks for the care my family and I have received over the years,” says Peter. “That’s why North York General is one of the top charities that I support.”
Giving back is important to Peter, so he has made it a key part of his financial planning. Every fall, Peter meets with his financial planner to go over his finances and stock portfolio. The goal is to find a way for him to live comfortably, have flexibility in case of unforeseen expenses, and still support the charities that mean the most to him – including North York General.
Together, they developed the perfect way for Peter to ensure that his own financial needs and philanthropic desires are both covered: each year, Peter gives gifts of securities to his three favourite charities.
By donating a gift of securities, Peter is not only benefiting the patients and families our hospital serves, – he is also able to benefit from a tax-efficient method of charitable giving. When you donate a gift of stocks, bonds, or other publicly traded securities directly to North York General Foundation, you receive a tax receipt for the full market value of the donation, and you avoid paying tax on any capital gains.
By diversifying his giving options through gifts of securities, Peter has been able to increase his annual charitable donations. “Giving this way helps me to give more than I could have than if I were to just write a cheque today. I would highly recommend speaking with your financial advisor to see if this method of giving is right for you too” Peter explains.
Making your end of the year gift of stocks or securities is easier than you think. There are just three easy steps to donate:
1. Talk to a financial advisor.
2. Contact the Foundation to let us know you’d like to make a gift of securities.
3. Ask your broker to transfer your securities directly to the Foundation account via this downloadable gift form.
Watch your mailbox for a special letter outlining how you can make your end of year giving even more special through gifts of securities. For more information, please contact Valerie Morrison, Specialist, Philanthropy, at the Foundation office at 416-756-6708 or Valerie.Morrison@nygh.on.ca.
Left: Long-time North York General donor, Peter Paterson.