Leave a lasting legacy to ESG
What is a Planned Gift?
A Planned Gift is a gift made from a person’s accumulated assets rather than from their regular ongoing income. In the case of United Churches, 90% of Planned Gifts are gifts made through wills (bequests).
Current contributions to the church for operating, programming and capital requirements generally come out of a person’s current income, while a bequest comes out of assets left at the time of death, when current contributions cease.
Types of Planned Gifts include:
- Bequests or inheritances from congregational members and friends
- Gifts of securities, life insurance or annuities
- Gifts of real property
- Other specific gifts such as cash
- Interest, dividend income and capital gains earned from the investment or holding of the gifts.
Purpose of the Planned Gift Fund
Planned Giving is simply another way for members and adherents to support the ministry of the Church. Many dedicated members and adherents have a strong commitment to their faith and the ministry of Eglinton St. George’s United Church. They should be given the opportunity to reflect their feelings in their will or through other Planned Gifts.
It is not intended that money from the Fund be used to cover regular and ongoing operating and capital requirements of the church. Rather the Fund would be carefully invested and managed with the decision on recommended uses of the funds carefully approved by the Church Council and Congregation. Uses would be aimed at perpetuating and enriching the life and work of ESG United Church. Uses could include major facility improvements or financial support for programs and activities of the congregation or the wider church when required.
The Fund will be maintained in separate accounts distinct from all other church funds, with regular reporting to the Church Council and the congregation by the Board of Trustees on the Fund’s activities, investments and financial status.
How Do I Make a Planned Gift?
Making a bequest in your will is the most usual method. This can be a specific dollar amount or a percentage share of your estate. A simple clause added to your will, such as: “to pay to Eglinton St. George’s United Church, the sum of $-—— to be added to the Legacy Fund of the Church”, can make this happen. You should consult with your lawyer when drafting a will or making a change to an existing will.
There are significant tax benefits to your estate that result from making a bequest to a registered charitable organization such as
Eglinton St. George’s.
If you have any questions about Planned Giving, contact Walter Pridham.