Gift of Securities or Mutual Funds Transfer Instructions
International Teams Canada maintains an account with CIBC Wood Gundy, to receive gifts of securities or mutual funds. IT donors wishing to contribute this way should notify the Development Department of their intention to make a gift of stock to International Teams Canada by emailing give@iteams.org, or by calling 519.669.8844. Please direct your inquiries to Janelle Weber, Donor Services Coordinator.
Your broker can easily transfer stocks "in kind" to International Teams Canada by completing a gift of securities processing form on your behalf. This is a simple letter of direction and any of Canada's major brokerage firms transfer shares this way on a daily basis. It's easy and generally very fast.
The value of your contribution to ITCA and the amount that will be reflected in your charitable tax receipt is based on the closing price on the day your shares or mutual fund units are received and posted to International Teams Canada's CIBC Wood Gundy account. There are no fees levied against your gift - ITCA pays a flat 1.5% commission to process the sale of the shares with CIBC Wood Gundy.
Please note: Unlike publicly traded stocks that may be exchanged almost instantaneously between two legal entities, transferring ownership of a mutual fund remains a slow process. The re-registration time varies from fund to fund and can take as long as 6-8 weeks.
Summary of Steps
Step One - Contact International Teams Canada
Step Two - Download form, bring to your broker to process
Step Three - Your broker processes transfer - you advise International Teams Canada
Step Four - International Teams Canada advises you of day, price and value of stock when received at CIBC Wood Gundy and we direct funds as designated.
