Gift of Securities: Don Guthrie

The following is the story of a gift of securities made by Honorary Trustee Don Guthrie.

"I have worn many hats at the ROM, including vice-chairman and acting chairman of the Board of Trustees and founding chairman of the Honorary Trustees. Today, I'm still involved as a volunteer but I'm also proud to be supporting the ROM through gifts of securities. I'm helping the Museum while taking advantage of the government's incentive of reduced capital gains tax for myself. Years ago I took out small insurance policies, and when the life insurance company de-mutualized, I opted for shares instead of the cash. As they were given to me with a $0 value, any value they carry is considered a capital gain. Donating these securities to the ROM eliminates the capital gains tax that I would have paid if I had sold them for my own use. It's really a smart way to give."