The Loran Award
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Canadian Merit Scholarship Foundation - The Loran Award

Online: The easiest way to support CMSF is to donate securely online. Tax receipts for online donations are issued the day that you make your donation. Some donors prefer to establish pre-authorized monthly donations rather than making an annual donation to CMSF. A single cumulative tax receipt is issued in January for monthly donations made in the previous taxation year.

Cheque: If you would prefer to donate by cheque, please make your donation payable to The Canadian Merit Scholarship Foundation and mail it to:

CMSF
460 Richmond Street West, Suite 502
Toronto, ON M5V 1Y1

US-based donors: If you would like a US tax receipt, you may prefer to donate to Friends of Canadian Education, a 501(c)(3) charitable organization.

Aeroplan points: Since we pay part of the costs for all finalists to travel from their hometowns throughout Canada to Toronto for national interviews, we greatly appreciate donations of Aeroplan points to mitigate the cost of flights. Please call Chris Cowperthwaite at 416-646-2120, x223 to arrange a donation of Aeroplan points.

Publicly listed securities: Some donors prefer to donate publicly listed securities that have appreciated in value. The May 2006 federal budget made such in-kind donations of listed securities advantageous in terms of tax savings by exempting the capital gains from tax. If you are interested in donating publicly listed securities, please call Chris Cowperthwaite, business and outreach officer, at 416.646.2120, x223. To expedite these types of transactions, we encourage donors to use our donation of securities form.

Example:
The chart below assumes a tax rate of 50 per cent and a donation of $100,000.

 Sell Shares & Donate CashDonate Shares Directly
Fair market value$100,000$100,000
Cost basis$20,000$20,000
Capital gain$80,000$80,000
Taxable gain$40,000$0
Tax credit (at 50 %)$50,000$50,000
Tax on gain (at 50%)$20,000$0
Tax savings$30,000$50,000