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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

  • High Rates: Enjoy a higher rate of return than GICs or Bonds

  • Guaranteed Income: Your income is guaranteed for life for you (and your spouse if you wish)

  • Tax‐Exempt Income: A good portion (and often all) of the income is tax-exempt

  • Peace of Mind: Never worry about investment risk again

  • Tax Effective: Receive an immediate one‐time charitable tax receipt

  • Satisfaction: Leave a significant legacy gift after you die to your congregation and/or another
    area of the church that you care about
  • Joy: Experience the double‐blessing of giving and receiving!

Planned Giving

“Some give freely yet grow all the richer; others withhold what is due, and only suffer want. A generous person will be enriched, and one who gives water will get water.”

Proverbs 11:24-25 (NRSV)

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.

Business woman giving thumbs up

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.

Printable
Form:
Application
for Gift
Annuity.

Bulletin
Insert:
Charitable Gift
Annuities

This easy-to-read bulletin insert

explains how a charitable gift

annuity works.

Order inserts for your congregation.

Video: Gift Annuities: Gifts that Give Back

Did you know that you can give to the church and also receive
guaranteed annual income for the rest of your life?

In this three-minute video, Laura Cronsberry shares what a gift
annuity through The Presbyterian Church in Canada has meant
to her.

Frequently Asked Questions

Frequently Asked Questions

Not at all. You can acquire a gift annuity for as little as $5,000. Furthermore, because of the tax benefits, you will
usually receive more annual income than you would from a GIC or bond.

It is determined by a formula based on:

  • your age when acquiring a gift annuity;
  • the current bond rates; and
  • the expectation that at least half of the initial investment will eventually be available for the church’s work.
It depends on your age and life expectancy. The older you are, the greater the percentage of the annual income
designated as tax-free. In addition, you will also receive a one-time charitable donation tax receipt for 20% or more
of the original gift amount.
Payments are generally made semiannually on January 1st and July 1st (for larger annuities, quarterly or monthly
payments are possible).
Absolutely. You can give it for:

  • Your own congregation;
  • The general funds of The Presbyterian Church in Canada (i.e. Presbyterians Sharing);
  • PWS&D’s relief & development work;
  • A particular aspect of The Presbyterian Church in Canada’s mission work (e.g. new church development
    in Canada, international or national mission work, theological education, etc.);
  • Or, you may spread your gift among several areas, indicating what percentage you would like to go where.
  • A one-time tax receipt for a portion of the amount of your original gift;
  • An opportunity to decide the particular ministries you would like to support with your gift;
  • Your final gift flows to your designated beneficiaries outside your estate, so your gift is not held up while your estate is being settled and there are no probate fees.
  • The satisfaction of knowing your gift will support the work of the church for generations to come.
  • The joy of experiencing the double-blessing of giving and receiving!

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

  • or call the Stewardship & Planned Giving department, 1-800-619-7301.

  • or mail to: The Presbyterian Church in Canada, 50 Wynford Drive, Toronto, Ontario M3C 1J7.

Charitable Registration No. 10785 6619 RT0001

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.