Giving to support the greater good is engrained into the fabric of Teji and Nimmi Kanwal. The pride on both of their faces as they speak of the bursary they set up for Dalhousie students, or the volunteering that they have done, is in every word.
Teji and Nimmi are both former teachers, born in India, who started their lives in Canada over 50 years ago.
The couple made a quiet corner of Dartmouth their home as it was where Teji was offered his first teaching job.
“We are teachers — I taught high school while Nimmi taught elementary kids. We didn’t have kids but we both took up hobbies we enjoyed. Nimmi volunteered with the Women of India Auxiliary, raising funds for deserving causes, and I took up investments with a friend. I also got into real estate. Between those two avenues, we have been able to give back to our community or our family each year.”
Nimmi strongly believes the desire to give back and care for humanity comes from your upbringing.
“I think being charitable comes from your parents and your environments. While we do support family and a variety of causes, people will ask why we don’t support projects in India. Canada is home now. We grew into being adults here, we worked here and made money here. It is quite satisfying to be able to do something for the betterment of humanity.”
Teji and Nimmi have been giving gifts of various sizes to the QEII Foundation for twelve years, always giving to the area of greatest need.
“We used to give by cheque, but I think tax wise by giving stock, you're a little better. It's a win-win. It doesn’t make a difference to the charity, how we give — they get the money either way."
As the couple explains, when donors transfer stocks or securities directly to a charity—like the QEII Foundation—rather than selling them and donating the proceeds, they may eliminate any capital gains tax otherwise owed. Donors also receive a charitable tax receipt for the full market value of the securities.
They learned of the option to give securities during a session hosted by the QEII Foundation and Glenn Stewardson with the Donor Motivation Program.
But it isn’t always about giving—Teji believes being charitable has taught him a valuable lesson.
“I’ve learned over the years the more you give, the better you feel— it makes you want to continue giving. The savings on capital gains are wonderful, but we would give back anyways. Giving through securities allows us to give more.”
Nimmi fully believes that health care is an area people need to support as it can save lives.
“We are at this stage where we are kind of disposing of whatever we can. We have a will. We have some set aside for our care. Of course, we have taken our families into consideration, but we are also deciding how to give our money to support people or causes who really need it. Hospitals and health care are so important. It is an outlet for people who need care, no matter who you are.
To learn more about giving a gift of securities and to support health care at the QEII today, visit QE2Foundation.ca/securities.
