Ways You Can Help

The following are only guidelines, and we always recommend seeking advice of your lawyer or financial planner.

You may make a gift during your lifetime or at death through your Will. Substantial gifts can be made without an immediate outlay of cash/assets, thereby protecting your immediate financial security. Most gifts provide attractive tax advantages. Your gift to the Diocese of Toronto can be done in several ways:

Cash
A cash gift is a voluntary transfer of cash without consideration. Cash gift may take the form of bills, cheque, credit card or other bank instruments. A cash gift can be made online or through the mail

Bequests
A bequest is a direction in your will to leave one or more of your assets to a charitable organization.

The benefits of making a bequest:

  1. Your bequest can be a lasting legacy for you, your family, or anyone you may wish to honour.
  2. You retain full control of your assets during your lifetime.
  3. Your bequest can provide tax relief to your estate.

The Anglican Diocese of Toronto Foundation will issue a tax receipt for the full value of the bequest.

For further information please contact Peter Misiaszek, Director, Stewardship Development at 416-363-6021 Ext 246

Charitable Gift Annuities
A charitable gift annuity allows you to make a gift of cash, stocks, or other assets for receiving a guaranteed, predetermined income for life.

 

The benefits of charitable gift annuities:

  1. Annuities are high quality, guaranteed investments that provide regular payments to you and/or your spouse.
  2. You can choose the payment structure that best suits your needs – monthly, quarterly, annually. Your payments can be deposited directly into your bank account.
  3. Each payment is a blend of capital and interest – the capital portion of your payment is non-taxable. The blend is structured so you pay less tax.

For further information please contact Peter Misiaszek, Director, Stewardship Development at 416-363-6021 Ext 246

Insurance Policy
Gifts of life insurance are made by transferring ownership of an existing or new policy to the Diocese of Toronto.

Gifts of life insurance are an affordable way to make a difference. A modest annual premium paid over time will result in a significant future legacy.

 

There are three ways of making a gift of life insurance:

  1. You can donate an existing policy and receive a charitable tax receipt for the net cash surrender value (less any outstanding policy loans) and any premiums paid after the date of transfer of ownership to the Diocese of Toronto.
  2. You can take out a new life insurance policy, name the Diocese of Toronto as the owner and beneficiary, and receive a charitable tax receipt for any premiums paid after the date of transfer of ownership to the diocese.
  3. You may also name the Diocese of Toronto as beneficiary of your policy, or the life insurance policy from your employer, and your estate will receive a charitable tax receipt equal to the death benefit proceeds paid directly to the diocese.

For further information please contact Peter Misiaszek, Director, Stewardship Development at 416-363-6021 Ext 246

Publicly Traded Securities
When you donate publicly traded stock and securities, you will receive a tax receipt for the full appreciated value of a donation of publicly traded stock or securities and you will not be subject to any capital gains tax.

 

The benefits of making a gift of stock or securities:

  1. Capital gains tax on publicly listed stocks and securities are exempt when you donate your shares to the Diocese of Toronto rather than selling and donating the proceeds.
  2. The value of your tax receipt will be based on the market closing price on the day foundation takes legal receipt of your stock or securities into our brokerage account.
  3. You may claim charitable donations up to 75 per cent of your net income, and a five year carry-forward on any unused donation amount is permitted.

Download a Marketable Securities Form Today!

Gifts of Residual Interest & Charitable Remainder Trust
Gifts such as charitable remainder trusts and gifts of residual interest allow you to arrange your legacy gift now and receive an immediate tax receipt, while enjoying the interest income (charitable remainder trust) or use of the gifted asset (gift of residual interest) for life.

To establish a charitable remainder trust, you fund the gift by irrevocably transferring assets (a sum of money, securities, bonds or mutual funds) into a trust to be managed by a trustee (a financial institution, yourself, a lawyer or other individual). A trust document names the interest income beneficiary (you or an alternative individual based on one life, joint life, or for a fixed term), and names the Diocese of Toronto as the remainder beneficiary. You receive a receipt based on the net present value of the remainder interest.

For a gift of residual interest, you donate your personal property to the Diocese of Toronto today but continue to use it for the rest of your life, while receiving an immediate charitable tax receipt. Gifts of residual interest can include real estate, art work, books, manuscripts, musical instruments and other tangible assets.

The benefits of a charitable remainder trust or a gift of residual interest:

  1. Your gift is not subject to probate fees and other estate costs. Trust assets are not considered part of your estate and are not subject to the cost and delay of probate.
  2. You receive a charitable tax receipt at the time the gift is made for the net present value of the remainder interest of the trust or the net present value of the property. (Net present value is based on the anticipated number of years you or another assigned beneficiary will receive the benefit from the trust, according to fair market value and the appropriate annual discount rate.)
  3. Experience freedom from investment worries while receiving lifetime income from the donated asset.

For further information please contact Peter Misiaszek, Director, Stewardship Development at 416-363-6021 Ext 246

The Canada Revenue Agency has several publications that outline the rules for charitable tax credits. They are available free of charge at your district taxation office. Or, consult your financial advisor.

For more information, please contact Peter Misiaszek, Director of Stewardship Development, 416-363-6021 ext. 246 (1-800-668-8932).