Gifts that Give Back
Jesus said: “It is more blessed to give than to receive” (Acts 20:35), but many Presbyterians who love the church are discovering the blessings that come from simultaneously giving and receiving.
A charitable gift annuity acquired through The Presbyterian Church in Canada allows you to give a substantial gift to your local congregation and/or The Presbyterian Church in Canada and, in return, receive a regular income for life. It is an ideal planned giving vehicle for people sixty years of age and older who would like to leave a gift to the church after they die, but also need to receive a steady income during their lifetime.
You may acquire either a “single annuity” (which provides income for you as long as you live) or a “joint
annuity” (which provides life-long income for you and your spouse, or a brother or sister).
The majority or all of the annual income is tax exempt, depending on your age at the time you acquire a
gift annuity. In addition, donors receive a one-time charitable tax receipt for a minimum of 20% of the
total annuity (the percentage increases the older you are when you acquire the annuity).
A gift annuity gives you the deep satisfaction that comes from knowing that you will be supporting
important mission work after you have died, while at the same time giving you the assurance that you will be
receiving regular income each year for as long as you live.
By acquiring a gift annuity through The Presbyterian Church in Canada, you can experience the double-blessing
of giving and receiving!
Benefits of a Charitable Gift Annuity
An Example
Margaret is 70 years old and living in her own home on a fixed income. While she was managing to pay all her expenses along with a weekly offering to her church, she wanted additional money for incidentals or extras. After attending a planned giving seminar, Margaret discovered the good news of gift annuities — that there is a way for her to generate more yearly income for herself and also give a substantial gift to her congregation and The Presbyterian Church in Canada’s mission work when she dies. After consulting with The PCC’s Planned Giving Office and her personal financial planner, Margaret decided to acquire a gift annuity for $20,000. The contract she signed stipulated that the money remaining in the annuity after she dies will be split evenly between her church and Presbyterians Sharing. In exchange for her gift, she will receive a one- time charitable donation tax receipt for $5,152.32 while receiving an annual income of $1,176.00 (equals a 5.88% annuity rate,* 100% of which is tax exempt) for the rest of her life. Margaret is overjoyed that she can experience the double blessing of giving and receiving! *rate as at Feb 7, 2018
Special note: the above figures are for illustrative purposes only. Annuity rates are subject to change. To get a free annuity quote, contact the Planned Giving Office.
Why get more than one Charitable Gift Annuity?
Nita and Will Harvey have acquired two joint gift annuities, designating their home congregation as the beneficiary for each
of them. It is not unusual for those who already have a gift annuity to acquire one or more additional annuities. Nearly one-
quarter of all the annuitants in the PCC are repeat customers! Why? Because they have learned from personal experience
the benefit of having a guaranteed source of regular income, the majority of which is tax-free, while simultaneously
providing a substantial legacy for the church.
“It is our belief that our church needs a major effort put forward to make people realize that gift annuities are not just a tax advantage. They are one way that we can contribute to the very lifeblood of the church for generations to come.”
—Will Harvey
Resources
You can download and print this confidential
Application for Gift Annuity Form or you can
contact Stewardship & Planned Giving and we’ll
be glad to mail you one. We recommend that
you to take this form with you when you consult
with your legal and/or financial counsel.
Frequently Asked Questions
Frequently Asked Questions
Professional Membership
The Presbyterian Church in Canada is a member in good standing of the
Canadian Charitable Annuities Association (CCAA)
The CCAA provides education, information, and guidance to charities registered under the Income Tax Act of Canada
which receive donations through gift annuities, life income gift plans, and other forms of charitable gifts. It also
establishes ethical and financial standards for these charities.
For More Information
The Stewardship and Planned Giving staff are available to help you turn your philanthropic wishes into reality.
To learn how a Charitable Gift Annuity or other planned gift can leave a lasting legacy, please contact us
Charitable Registration No. 10785 6619 RR0001
The information on this page does not constitute legal or professional advice and should not be substituted for appropriate professional advice. The Presbyterian Church in Canada strongly recommends that you seek professional legal and financial advice to ensure your financial situation and those of your dependents are considered; that your tax situation is reviewed; and that your legacy gift is tailored to your circumstances.