The Trinity Legacy Fund has been established as a special gifts fund to help secure our church’s financial future. It is separate and distinct form all other operational funds of the church. It is yet another way in which we can give back in gratitude to God as God has blessed us. We, as congregation members, continue to benefit from the generosity of those who have gone before us. Those who have made special gifts to the church and those who have remembered the church in their wills, continue to bless us and to bless our work as a church.
History
The Legacy Fund was created a decade ago and has grown to over a million dollars as at the end of December 2005. There have been a total of 31 gifts received to date ranging in value from $1,000 to $300,000. Total investment income since inception has been $163,000. Investment returns over the last three years have been 12.99%, 15.21% and 16.97% respectively, The growth of the fund reflects the confidence members of the congregation have in the future of our church.
How You Can Give
Planned gifts can be made in many forms including cash, securities, and life insurance. A recent change in the Federal Budget affected gifts of securities to registered charities Such gifts will no longer attract capital gains tax either for the donor or the charity. A charitable donation of publicly-traded securities such as stocks and mutual funds results in a tax receipt for 100% of the value of the gift on the day of the transfer. For example, you might wish to make a charitable gift of $10,000 by selling or donating stocks that cost you $4,000 to purchase, with a capital gain of $6,000. If you sell the stocks and donate the proceeds, you would claim a charitable tax credit for your donation but would also be assessed capital gains tax on 50% of the increase in value of the stocks. By donating the stocks directly to the Trinity Legacy Fund you get the full charitable tax credit for the donation and you are exempted from any capital gains tax. The simplest form of planned gift is a bequest in your will but such gifts can be made and enjoyed now or in stages over the next several years. Talk to your financial advisor and make your wishes known to your family. The amount of your gift will depend solely on your individual circumstances. Consult a financial advisor to ensure a gift is done in an tax effective manner.
How to Get Started
First and foremost make certain you have a will and that it reflects your current circumstances. Your family needs to know your wishes regarding the disposal of your estate. Make your wishes known and secure powers of attorney for personal care and finances. It is important that such documents be in the hands of your family and advisors. Members of the Legacy Fund Committee would be happy to meet with you and discuss the many planned giving options. Your financial advisor can certainly let you know what other people have done or are considering. Many financial institutions sponsor seminars on estate planning which usually include planned giving. Decisions regarding the future are easy to put off so start the discussions today.
Administrat ion of the Fund
Funds paid into the Legacy Fund are deemed to be endowment funds so only income earned on the funds can be disbursed in any year. The rules of the Legacy Fund go one step further and disburse only income earned in excess of the rate of inflation in any year. Funds are received, acknowledged and invested by the Church Treasurer in accordance with the Policy established by the Investment Committee. The Committee relies heavily on an investment advisor and is responsible to the Finance Committee. All investments must meet the requirements of the Ontario Trustees Act and follow the guidelines of the United Church of Canada Pension Plan with respect to eligible investments.
How You Can Reach Us
Any of the following members of the Legacy Fund Committee will be glad to arrange an appointment to talk with you about your planned gift:
Michael Wilson, Trustee David Martin, Trustee Bruce Scandrett, Trustee Ken Summers, Treasurer