Planned Giving
In the United Church Planned Gifts are gifts from accumulated resources. The most common Planned Gifts are:
Bequests
Bequests are the oldest and simplest type of Planned Gift. Over the years many have reflected their lifelong commitment to their church by making a bequest to the church in their will. In a typical year United Church congregations receive about $10 million in bequests with the average bequest being approximately $12,000.
Your will is an excellent opportunity to provide for those dear to you. Consider including a provision for the church in your will.
Your estate will receive a charitable tax receipt for the full amount of the bequest. The tax receipt can be used for up to 100% of net income in the year of death (and the year before death, if necessary). This could result in a sizeable income tax refund to your estate.
Gift Annuities
People have been making gifts to the church using United Church Gift Annuities for a long time. In fact, the first Gift Annuity was sold by the Methodists in 1907. The authority to sell Gift Annuities was written into the federal legislation which created The United Church of Canada in 1925.
A United Church Gift Annuity creates a gift to the church at the time of your death and gives you with an income for as long as you live.
Important points to remember:
- the rate of return on your annuity is fixed and depends on your age when you take out the annuity
- the rate of return is several points higher than bank or bond rates at the time you purchase your annuity
- most or all of the income is tax-free
- minimum age is 60 years
- older donors may also qualify for a one-time charitable tax receipt at the time the gift is made
- minimum gift is $1,000
- the residue at death usually amounts to about one-half of the original amount of the annuity
- the residue can be directed to St. Andrew's College, the Mission and Service Fund or to any other area of church work that is important to you
- joint annuities can also be arranged. With joint annuities the income continues until the death of the survivor.
Gift of Shares
When you make a gift of shares to the church you do not pay capital gains. Yet your charitable tax receipt is for the full value of the shares on the day they are received by the church.
Gifts of Life Insurance
You can donate an existing policy and receive a charitable tax receipt for its cash value. Alternatively, you can purchase a new policy, enabling you to make a large gift to the church in the future for a relatively small cost now. You receive a charitable tax receipt for the premiums you pay.
You can direct your Planned Gift to:
- St. Andrew's College
- the Mission & Service Fund, or
- any other area of church work that is important to you.
St. Andrew's College has kept the faith for ninety years. Continue the legacy begun by others so long ago. This rich faith inheritance out of which we all live was made possible by the strength and witness of those who have gone before us. Help ensure that this ministry continues well into the future by making a Planned Gift to St. Andrew's College. Your gift does make a difference.
