Chuck Hantho

Chuck HanthoChuck Hantho, a Princess Margaret Cancer Centre supporter, recently gave a gift towards the fight against cancer – a much larger gift than he originally planned. 
 
How?  It’s all thanks to the latest federal budget.  You can now donate stocks, bonds or mutual funds to charities like The Princess Margaret Cancer Foundation and pay absolutely no capital gains tax on the increase in value. 

Married for 48 years with four children and 12 grandchildren, Chuck lost his wife Phyllis to breast cancer in February 2006.  He wanted to celebrate her life with a meaningful gift to the Foundation.
 
When Phyllis passed away, Chuck asked that memorial gifts be made to the Foundation.  Friends and family generously responded by donating more than $12,000.  But Chuck wanted to do more to help conquer cancer and ensure that Phyllis’ legacy would live on.
 
Aware of the recent budget change, Chuck immediately thought of a particular stock he owned that had significantly increased in value.  He knew the capital gains tax would be high if he sold this stock for his own use. But if he donated the stock directly to the Foundation, he would pay zero capital gains tax.  So that’s what he did. 

The full market value of Chuck’s gift of stock turned out to be a significant donation.  Chuck is now in touch with Shannon Stuart, Director of Major Gifts at PMCF, to determine how this fund can be best directed to honour Phyllis and benefit cancer research at The Princess Margaret.
 
In addition, a beautiful glass dove dedicated to Phyllis will be permanently installed on the Wings of Hope Dove Wall in the main Atrium at The Princess Margaret.   He wants other dedicated supporters to be aware of the new tax advantages of making a gift of stock to PMCF.  He hopes his gift inspires others to do the same so we can move closer to conquering cancer. 

For more information on the advantages of donating a gift of stock, please call 1.866.937.7643.