Gift of Securities Helps Parish Campaign

Gift of Securities Helps Parish Campaign

There are many ways to make a planned gift to your church. One that has grown in significance in recent years is the gift of shares or securities. When you donate listed securities to your church, you get a tax receipt for the full market value of the gift and pay NO tax on the on the gain derived from gifting the securities. It is the most tax effective way to make a donation.

One such gift was received in the closing days of 2010. It was a gift of securities from a parishioner of St. Michaels and All Angels in St. John’s. You may or may not know that St. Michael’s is in the process of raising $400,000 as part of a capital campaign to build a new church building. The donor – let’s call him George – for he wants their gift to be anonymous - gave a number of securities totalling approximately $25,000. Why would he do that? Because, in his words, it’s a win-win situation. Here’s what he said:

Upon reviewing my various options for payment listed in the campaign material. I chose Publicly Traded Securities. This payment type for anyone who holds shares is a win / win situation. Revenue Canada some time ago changed the income tax act such that any capital gain accrued on shares is not subject to tax if they are transferred to a registered charitable organization. The donor wins (not having to pay tax) and the church wins (it will get the full value of the shares).

I pressed him further. But, why would he and his wife support the parish at this time?

The year 2010 was the 125^th anniversary of the Parish of St. Michael and All Angels. Through all those years there have been thousands of people who have devoted their time, talent and treasure to mould St. Michael’s to be the unique parish that it is today. With the direction of long term dedicated rectors, traditions were established that continue today and are the reason that many of our parishioners travel long distances to worship and find comfort in our midst doing God’s work. Having been a member of the parish for most of my life, I recognize the value of this ministry. When I think about the contribution of all the people that have come before me, I have a real sense of a responsibility that has been passed to me to carry on into the future.

The Rector, Father Sam Rose was obviously delighted.

"St. Michael's has been blessed with innovative leadership who have, since 1885, realized that our parish is a unique expression of the Catholic faith. Parishioners consider St. Michael & All Angels not just a church to attend but a family in which they belong. The relocation of our parish family to a new area is our response to God's call to mission. Our family have been generous in making this transition a reality. This planned gift is one way in which God's mission can be achieved."

What a wonderful legacy that George and his wife have left for their parish. Their act of generosity and stewardship is indeed remarkable.

I leave the final words to George:

We need to spread the word of our ministry to new areas and new people and this will happen with the relocation of our new church. I am committed to contribute in any way to make this happen. I have given this contribution at the start of the campaign as it may serve as an encouragement or incentive to others.

Kevin Smith is a gift planning Consultant for the Anglican Church of Canada. He can be contacted at ( 709) 739-5667 or by email at k_smith@nf.sympatico.ca.