What is "Planned Giving?"
Planned Giving is the donor-centered process of planning charitable gifts, whether current or future, that meets philanthropic goals and balances personal, family and tax considerations. It is not a specific campaign but an ongoing method of providing funds with emphasis on building long-term relationships, using specific gift-giving options.
What options are available?
The phrases “planned giving” and “gift planning” are interchangeable terms in estate and financial planning. All planned gifts fall within two categories: current or deferred. Planned giving to the Church takes into consideration your stewardship objectives along with your personal, family and tax planning circumstances.
Some examples of planned giving include:
- Cash Donations
- Publicly Listed Securities
- Gifts in Kind (e.g., real estate, equipment or household items)
- Life Insurance
- Charitable Gift Annuities
- Charitable Remainder Trust
- Registered Plans
- Residual Interest Trust
These options should be reviewed, taking note of Federal and Provincial income tax provisions that can significantly lower your income tax, thus maximizing the value of your donation. This guide provides limited information about cash donations, listed securities, bequests, gifts in kind, life insurance and charitable gift annuities, as well as providing general information about your Last Will and Testament.
Should you wish to use planned giving methods to benefit your Parish or the Diocese, we encourage you to consult with your lawyer or financial planner for professional assistance. These professionals can assist you to better understand your complete range of options, to answer any questions you may have about the process, or about how planned giving can benefit your estate and support your legacy.
Prior to making a donation or gift, we recommend that donors receive independent professional advice concerning the possible financial, taxation and legal consequences.