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:

 

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).

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. You can make a cash gift online or through the mail.

A Bequest in Your Will

Through a gift in your will you demonstrate your passion, values and hopes. You are also able to make a larger donation than would be possible during your lifetime.

By naming The Anglican Diocese of Toronto Foundation or a church parish as a beneficiary in your will, you can give a percentage of your estate, a sum of money, a gift of property or a gift of securities. Your estate will receive a tax receipt for the value of the gift, which may reduce your taxes payable to your estate.

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.

Sample clauses for wording your bequest

Proper wording is vital to the validity of a bequest. Here are the recommended clauses for your use:

Specific amount bequest:

“I DIRECT my trustee(s) to pay the sum of _________ DOLLARS ($__________ ) to THE ANGLICAN DIOCESE OF TORNTO FOUNDATION, currently located at, 135 Adelaide Street East, Toronto, Ontario M5C 1L8 for its *general purposes. The receipt of an appropriate officer of the Anglican Diocese of Toronto Foundation shall be a sufficient discharge of my Trustee(s).”

*general purposes – should you want to leave a gift to a specific ministry of the Anglican Diocese of Toronto Foundation, please note it here. For instance, you may wish to designate your gift to The Office of the Bishop of Toronto Endowment or to The Canon Robert L. Falby Memorial Endowment for Aboriginal Ministry., etc.

Residual bequest:

“I DIRECT my trustee(s) to pay (insert number that equates to percentage) parts of the residue of my estate to THE ANGLICAN DIOCESE OF TORNTO FOUNDATION, currently located at, 135 Adelaide Street East, Toronto, Ontario M5C 1L8 for its *general purposes. The receipt of an appropriate officer of the Anglican Diocese of Toronto Foundation shall be a sufficient discharge of my Trustee(s).”

*general purposes – should you want to leave a gift to a specific ministry of the Anglican Diocese of Toronto Foundation, please note it here. For instance, you may wish to designate your gift to The Office of the Bishop of Toronto Endowment or to The Canon Robert L. Falby Memorial Endowment for Aboriginal Ministry., etc.

Let’s connect

The decision to leave a gift in your will to the ministries of the Anglican Diocese of Toronto Foundation may take place at any stage in your life. Talk to your family, talk to your financial planner and talk to us.

Should you decide to leave a gift in your will, please complete the Bequest Confirmation Form to share your wonderful news with us.

There are numerous options for legacy gifts. We encourage you to consult with your legal and financial advisors to consider all the relevant issues and income tax provisions.

Our legal name is “The Anglican Diocese of Toronto Foundation” and our charitable number is 89388 4528 RR0001.

A Life 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

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!

Charitable Remainder Trusts & Gifts of Residual Interest

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.