Logan family inspired by stories of courage

March 19, 2019
Their donation of stocks a tax-saving approach to giving.
Logan family
Marjorie Logan, with daughters Carol, Debbie and Donna.

Having grown up during the Great Depression, Marjorie and Gordon Logan knew the value of a dollar and the importance of helping others. They passed those traits on to their three daughters.

Last month, Carol, Donna and Debbie honoured their parents by arranging a second donation of $20,000 in stocks to support families at RMHC Toronto.

“After our father passed and our mother required nursing home care, we realized they had accumulated considerable savings in stocks,” says Debbie Joannou.

By donating some of the stocks, the sisters honoured their mother’s wishes to support families in need, while avoiding the capital gains tax they would have had to pay if they sold the securities and then donated the proceeds. That meant they could give even more generously to RMHC Toronto. And, they received a charitable tax receipt for the donation.

“Our parents were amazing role models for the three of us and for their grandchildren and great-grandchildren,” says Debbie.

Gordon-and-Marjorie-Logan-story.jpg
Gordon and Marjorie Logan

“Our father was very financially astute. We watched him prudently manage the little savings they had and invest it wisely. He taught us how to manage our money carefully.”

Their mother, says Debbie, was an active community volunteer who spent countless hours giving back.

“My mother tends to spread her donations around, but hearing the story of a family who benefited from RMHC Toronto inspired us to give a second time,” says Debbie.

“Some of our children have experienced long-term hospitalization, but we were lucky enough to live in Toronto. We can relate to the stress a family feels when their child is seriously ill, but we can only imagine how difficult it would be to also have to deal with the stress of finding affordable accommodation. We are grateful.”

Donating securities

Securities can include stocks, mutual funds, segregated funds, bonds, flow-through shares and employee stock options. You can give now or as part of your estate and will planning.

Donating is simple. Consult your financial advisor to decide which investments make the most financial and charitable impact. Then ask your broker to transfer your securities to RMHC Toronto by completing the appropriate transfer form.

And don’t forget to get in touch and let us know you have made your gift so we can show our appreciation.