Charitable
Gift Annuity
A charitable gift annuity acquired through The Presbyterian Church in Canada allows you to give a substantial gift to Trinity 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 their church after they die but also need to receive a steady income during their lifetime.
The majority or all of the annual income is tax-exempt, depending on your age at the time you acquire the 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).
Benefits
Example
A couple, both aged 70 and living on fixed incomes, sought to increase their monthly income. After consulting with the Presbyterian Church in Canada and their financial advisor, they learned that they could enhance their annual income while also planning a significant future gift to Trinity upon the passing of either or both of them. They elected to purchase a charitable gift annuity valued at $20,000. Under the terms of the agreement, any remaining funds in the annuity after their deaths would be directed to Trinity, without going through probate. In return for their contribution, they would receive a one-time tax receipt for $5,152.32 and an annual income of $1,176.00, representing a 5.88% annuity rate and fully tax-exempt, for the remainder of their lives.
Special note: the above figures are for illustrative purposes only.
Annuity rates are subject to change.