As each has received a gift, use it to serve one another, as good stewards of God's varied grace ~ 1 Peter 4:10
As Christians, we have a Biblical imperative to be good stewards of the resources with which God has entrusted us. One of our resources is our finances. This means we should take even a greater interest in planning our giving.
The Anglican Diocese of Central Newfoundland invites your generosity. Through a major gift or a planned gift, such as a bequest in your will, a gift of life insurance, or securities, you can support support programs in your parish, in the diocese or in the national church. You can direct your gift where you see a specific need at any of these three levels.
The information on this page is intended as an overview.
- What is Planned Giving
- Options for Gift Planning
- Uses for Your Planned Gift
- Other Ways to Give
Whether you choose to make a planned gift now or later, we encourage you to learn more about planned giving. For more information on the topic contact: The Ven. Terry Caines, Executive Archdeacon, Diocese of Central Newfoundland (email: firstname.lastname@example.org; phone 709-256-2372)
What is Planned Giving
Planned Giving is about the longer term. A planned gift is a gift deferred—a way of expressing your wishes now about how your resources are to be used later. It is a commitment made to protect those you love and an opportunity to benefit the Church for generations to come.
Planned giving is not separate from Christian stewardship, but is rather an important part of it. It offers ways over and above our regular support of the church’s on-going work, to share God’s gifts with others, and to grow spiritually as we live out our vocations and ministries within the mission of the church.
Options for Gift Planning
We invite you to consider the following gift planning options. The option(s) you choose depends on your unique circumstances and financial objectives. Please consult with your financial planner or lawyer for specific advice.
Bequest in your will
A gift made in your will—the most common form of deferred gift—provides tax relief to your estate, while ensuring that your commitment to the life of the church lasts beyond your lifetime. Care should be taken to ensure that the form and purpose of your gift is clear. A Gift Planning Officer can advise on the wording of a bequest. A lawyer’s services are recommended for the making of a will.
Life Insurance often allows you to make a larger gift than you might otherwise be able to make. You can assign a paid-up policy for which you have no further need, or you can obtain a new policy naming the church as beneficiary.
- By assigning ownership to the church, you receive tax credit for the cash surrender value and all future premiums.
- Naming the church as your beneficiary will give tax benefits to your estate.
Gift and “Gift Plus” Annuities are available through the General Synod. They provide guaranteed income during your lifetime and a gift of money to the church at your death. In the case of “Gift Plus” Annuities, this gift is immediate. A portion of the annual income will be tax-free, depending on your situation at the time of the gift. Annuities are especially attractive to people of retirement age and older.
Trusts and Gifts of Residual Interest
Individuals with substantial assets may wish to donate a portion of them to the church, while retaining use during their lifetimes. Besides cash and investment holdings, these assets may include property such as real estate or art. Gift arrangements of this type require very careful planning, with professional assistance.
Gift of Appreciated Securities
People who have made significant capital gains from investments are often faced with large tax burdens when they sell them. By donating securities to the church, your charitable objectives can be addressed and your tax burden reduced. Recent changes in tax law have made this type of gift very attractive to donors.
Uses for Your Planned Gift
Your gift must be used as you wish. However, donor’s intentions and the church’s needs do not always agree. To ensure that the church will be able to honour your wishes, please discuss your plans with your rector or Stewardship Officer.
A planned gift to your Parish and/or Diocese could serve any of a number of purposes. You could choose to direct your gift to support programs such as:
Children’s & Youth Camps
Other Ways to Give
Regular Offerings We give on a regular basis to Sunday collections, either using cash, cheques, visa, or, in a growing number of parishes, pre-authorized giving which debits regular amounts from your account to the parish account.
Emergency Relief We give spontaneously because there has been an earthquake in Nicaragua, many lives have been lost and those left behind are homeless and hungry: an emergency.
Special Programs Over and above this, we have in this diocese special programs which receive gifts such as Children’s & Youth Camps, Christian Education, University Chaplaincy, Queen’s College, Outreach Ministry, and Social Justice.
Special One-Time Assistance From time to time, your own parish will need special one-time assistance to fix the organ, the roof, the bell tower, or even build a new parish hall.
Longer term giving Longer term giving can be done in several ways, either during our life time or after we die. How we give such a gift over to the church is often referred to as a planned or deferred gift as described in the preceding information.