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Why plan?
James 4:14 tells us we cannot number our days. We need to have a plan in place so we are ready when the Lord calls us home. If we don't have a plan, it is possible our assets could be subject to unnecessary taxes, probate and legal fees, or the government could take a portion of our assets. These assets could easily be re-directed to a charity instead.
In 2 Corinthians 5:10 we are reminded that ultimately we are accountable to God for the resources he entrusts to us and 1 Timothy 6:17-19 challenges us to be wise stewards who "lay for themselves a good foundation for the time to come", to turn a physical investment into a spiritual dividend.
Planning our giving turns our earthly resources into effective returns.
What does it mean to plan our giving?
By planning, we are able to leverage our assets to make a gift larger than perhaps we thought possible and enjoy considerable tax savings, either personally or for our estate. Planned giving can save our loved ones from unwanted tax burdens. In some cases it can actually enhance our income and provide a greater level of retirement security.
There are numerous planned giving 'tools' that can be used to effectively address your specific situation.
What are the benefits of planned giving?
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Tax credits - Canada has favorable laws which make it personally beneficial for you to support a charity such as The Christian and Missionary Alliance in Canada (C&MA). For each donation you make, you receive a tax credit. The credit varies from province to province. As an example, for each dollar you donate, you will receive approximately a .43¢ - .50¢ credit to help reduce taxes you may owe in the next tax year or the five years following.
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For you, the donor - Support something of eternal significance, receive higher income, reduce or eliminate taxes, give more than you thought possible.
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For the C&MA - Needed financial resources necessary for the ongoing work God has placed before us in Canada and around the world.
How do I get started?
We all want to be good stewards of the resources God has entrusted to us, yet at the same time we have practical family and individual needs. Some need tax relief, others may be looking for better investment income, and there are those who just need to know what options exist.
A representative from the C&MA would be happy to answer questions and provide more detailed information. To contact a representative please call the National Minstry Centre (416) 674-7878 or send an email (click here) and ask for the name and number of the Giving Consultant in your area. |
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