Gifts of Cash
Whether it is a one-time gift or given over time, cash is a simple and effective way of supporting your congregation’s mission and ministry.
Benefits of Giving Cash
- Personal Satisfaction ‐ You will see your gift at work in transformational ministry.
- Simplicity ‐ The church can use your gift immediately and according to your wishes.
- Tax Effective ‐ You receive a charitable tax receipt for the full value of your gift.
- Flexibility ‐ Tax credits not used in one year can be carried over for up to five years and used when needed to enable possible greater tax savings for you or your spouse.
“”God loves a cheerful giver.”
2 Corinthians 9:7b
Examples of Generosity
These examples are based on 2016 Ontario rates. Donations of cash in this example are for persons with a taxable income under $200,000. You can determine savings in your province at: https://www.canada.ca/en/revenue-agency/services/charities-giving/giving-charity-information-donors/claiming-charitable-tax-credits/calculate-charitable-tax-credits/calculator.html . Note that tax credits may be even greater when savings on federal surtaxes and provincial taxes are factored in.
|For a gift of …||$1,000||$5,000||$100,000|
|Federal credit ($200 at 15%)||$30.00||$30.00||$30.00|
|Balance at 29%||$232.00||$1,392.00||$28,942.00|
|Ontario credit ($200 at 5.05%)||$10.10||$10.10||$10.10|
|Balance at 11.16%||$89.28||$535.68||$11,137.68|
|Total tax savings||$361.38||$1,967.78||$40,119.78|
|Tax savings as a % of the gift||36.1%||39.36%||40.12%|
|Cost of the gift||$638.62||$3,032.22||$59,880.22|
Options for Giving Cash
Of course, you are always welcome to bring your gift to your church’s worship service. If you are unable to come to church, either by virtue of distance or infirmity, you can mail the church a cheque. Your local congregation may also offer Digital Giving (by credit card) on their website or Pre-Authorized Remittance (PAR), (which enables you to set-up an automatic monthly gift to be debited from your bank account).
If you would like to make an online donation to any of the ministries of The Presbyterian Church in Canada, click here to donate. Please let us know if you want give anonymously — we always want to recognize and share our gratitude for your generous gifts.
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 Remainder Trust or other planned gift can leave a lasting legacy, please contact us
Contents & Links
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.