Why not make this your year to donate!

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Pynelogs Cultural Centre is the venue and destination for all things Cultural in the Columbia Valley. Pynelogs has seen many milestones over its 102 years… private residence, local hospital, group home and now the regional cultural venue for Visual, Performing and Interactive Arts. Centennial donations go to the Pynelogs Preservation Fund. Thank you for your support!

Benefits of your donation: Tax Receipt, Acknowledgement on the Pynelogs Recognition Wall

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CV Arts operates through the dedication and efforts of many volunteers, and is entirely dependent upon grants, donations, charitable functions and the sale of local art in its gallery for revenues.

One hundred percent of all donations are given back to the operation and promotion of CV Arts programs and the Pynelogs Cultural Centre, so please think generously, and Donate to CV Arts.

We continue to need your financial help to continue our programs and bring our vision to fruition.

The Mountain Mosaic Festival of Arts and the Invermere MusicFest are our annual fundraisers, and many sponsorship opportunities are available.. Please contact us for details.

Consider participating, as a donation to CV Arts is recognized with a tax receipt and an plaque on the donor wall in Pynelogs.

Donate to CV Arts: Benefits of a gift of stock

Making a Gift of Stock to Columbia Valley Arts Council (CV Arts) is a triple win for you:

  1. You support the programs, concerts, gallery shows, adult and children’s workshops
  2. You receive a charitable donation tax receipt to offset your income
  3. You pay NO Capital Gains tax on the appreciated value of the securities

Donate to CV Arts: Charitable Tax Receipt

Your Gift of Stock entitles you to a charitable tax receipt for the full value of your donation. CV Arts values, for tax receipting purposes, all gifts of stock on the closing price of the stock on the day the stock is received by CV Arts.

As with all charitable donations, a certain percentage of the donation becomes a non-refundable tax credit which has the effect of lowering your taxes payable. Any unused portion of your charitable tax credits can be spread out over 5 years.

No Taxes on Capital Gains
The Federal Government has eliminated capital gains taxes on shares that are donated to a registered charity such as CV Arts. Below is a simple chart to illustrate how you can save considerable taxes by donating shares directly to CV Arts.

For example, assume that an individual has stock that was originally acquired for $20 per share a number of years ago. Over time the value of those shares has now risen to $50 per share. The individual now wishes to make a more substantive donation to CV Arts than what they have in the past.

The first column shows what happens if the individual sells the shares and then donates the net after tax proceeds from the sale of the shares. The second column shows the impact that a donation of shares directly to CV Arts has with a gift of stocks.

 

Sell Shares & Donate Net after tax amount Donate Shares directly to CV Arts
Number of Shares 200 200
Current Value $10,000 $10,000
Cost of Shares $4,000 $4,000
Taxable Capital Gains $3,000 $0.00
Tax on Taxable Capital Gain * $1,170 $0.00
Donation to CV Arts $8,830 $10,000
Tax Credit on Donation * $4,415 $5,000

Current Value $10,000 $10,000 Cost of Shares $4,000 $4,000 Capital Gains $6,000 $6,000 Taxable Capital Gains $3,000 $0.00 Tax on Taxable Capital Gain * $1,170 $0.00 Donation to CV Arts $8,830 $10,000 Tax Credit on Donation * $4,415 $5,000
The net benefit to the donor by making a gift of stock rather than the proceeds is a net savings on taxes of $1,170 plus an increase in tax credits of $585 for a total tax savings of $6,170 ($1,170 + $5,000) versus a net tax savings of $3,245 ($4,415 – $1,170) by selling the shares and donating the net proceeds.

CV Arts also benefits by receiving a donation of $10,000 versus $8,830.

* The above example is based on the highest marginal income tax rate in Alberta of 39% (10% AB plus 29% FED) and calculation of non refundable Donation Tax Credits based on AB of 21% and FED of 29%.

As with any financial transaction we encourage our donors to confer with their own professional tax and/or legal counsel as every personal income tax situation is different.

Thank you for supporting CV Arts!

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