It's your opportunity to make a generous gift to the Church and do yourself a favour at the same time!

The ministry and program of The Anglican Church, its parishes and the life-changing work of related entities is important to you. You may have wished to advance this vital work by supporting your diocese or your parish with a generous gift, for on-going ministry or for special projects. You may even have considered starting an endowment that will continue giving in your name in perpetuity. You have savings and investments, but the interest rates fluctuate and sometimes your month-to-month income doesn't keep pace with rising costs. What's more, you know that your investments have to last your lifetime.

It's a dilemma, but there is good news: You may be able to make your gift and improve your cash flow at the same time.

The gift that gives back

A gift annuity is an arrangement under which you make a contribution to a parish, diocese or charity and receive, in turn, guaranteed payments for life. The amount of these payments depends on your age and the size of your contribution, but they will likely be significantly higher than you are receiving from your present investments, and the annuity arrangement is guaranteed. It will continue as long as you live, no matter what happens to the economy or interest rates. If you are married, you may choose a joint-and-survivorship annuity, which continues as long as either spouse, lives. Your gift annuity brings you a special bonus at tax time: a sizeable portion of your payments will be tax-free. While older annuitants will receive payments that are totally tax-free, all donors are entitled to a donation receipt that will result in a tax credit.

What are the advantages and benefits of a charitable gift annuity?

Attractive Rates: Mr. and Mrs. Jones, in their mid 70s are receiving a modest income from their GIC. When the GIC matures in two months, they plan to obtain a gift annuity that will noticeably increase their annual, after-tax income.

Gift annuity rates are very attractive for older supporters of the Church. Many folks in their retirement years will be pleased when they compare their low investment rates with the current annuity rates offered by the Anglican Church of Canada.

Tax-Free Payments: Part of each annuity payment is tax-free. For example, Mrs. Peter's, age 79, contributes $30,000 toward a gift annuity. Every year, she will receive $2,510 (8.4 percent), and $2,420 will be realized tax-free. (Depending on age, all or a generous portion of payments will be tax-free).

Tax credit: All donors will also receive a donation receipt, entitling them to an income tax credit. Mrs. Peter's, above, receives a donation receipt for $7,500 for her contribution, which will reduce the amount of income tax she pays. Any excess may be carried forward into the next five years. Fixed, Regular Payments: It's nice to be able to count on a specific amount of payment, no matter what happens to the financial markets. Your annuity payments will not change from year to year. And since gift annuity payments are backed up by the full assets of General Synod, you have assurance that your cheque will be direct deposited every payment date for the rest of your life.

Personal satisfaction: Perhaps the greatest benefit of a Gift Annuity is the personal fulfillment you receive by helping the Church as well as yourself. Your gift annuity assists a worthy cause that makes a difference in the lives of others. Your gift enables us to continue to provide essential ministry and program locally and with our partners overseas.

There are additional reasons for obtaining a gift annuity with the Anglican Church. Some like the idea of reducing the size of their estate, thus lowering potential probate costs. Others like the ease and simplicity of the gift annuity transaction.

Another Example: Mary, age 84, contributes $10,000 for a gift to her parish, and receives a lifetime annuity of $821.40 per year (8.2 percent), 100% of which is paid out tax-free. She is also entitled to a donation receipt of $4,368.98. Her parish will eventually use Mary's gift for an on-going outreach project.

How do I arrange a gift annuity?

At your request, I will be pleased to explain the gift annuity in greater detail and prepare a personalized illustration showing the annuity and tax consequences from whatever contribution you are considering. We would then encourage you to review the illustration with your own financial advisors, and when you are ready to proceed, we will assist you in the arrangements.

For more information please contact:
Archdeacon David Irving
Tel: 250 762 3306
Email: archdcnkootenay@telus.net