Monthly Giving
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Planned Giving enables you to make a gift during your lifetime that may involve tax benefits and income for life. It allows you to meet personal financial objectives and, at the same time, make a charitable contribution to Chosen People Ministries.
There are a number of ways to give through charitable gift annuities, real estate, life income plans, life insurance, wills and bequests, securities and trusts. You can also make a memorial gift.
We work in association with Link Charity Canada. Download our Link Charity planned giving brochure.
Using Link Charity as a Channel
In many ways, a Will acts as a channel for your earthly goods. Link Charity could be a useful tool when it comes to settling your estate. They offer a simple and effective solution by acting as a channel to receive all your estate charitable gifts by distributing the total proceeds to multiple charities in one Letter of Direction outlined by you. |
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The Benefits are:
Learn more about Bequests – Letters of Direction at Link Charity here. |
A Gift Annuity is an agreement between you and Chosen People Ministries. You transfer cash or securities to Chosen People Ministries and, in return, receive fixed payments for the rest of your life. You can even name someone else the beneficiary of a gift annuity.
Guaranteed payments:
Tax Benefits:
Trusts are formal legal arrangements designating a trustee to receive and hold legal title to property and administer the property according to your instructions. Trusts can arrange for any financial or administrative function.
Trusts can be very simple, or they can be as complex as necessary to meet your various financial, charitable and personal goals.
Who Might Set Up a Trust?
What Types of Trusts are There?
Charitable Lead Trust
Charitable lead trusts are designed to provide income to Chosen People Ministries immediately and for a period of years, after which the property either reverts to you or passes to those you designate, typically your children or grandchildren. These trusts are most often used to transfer assets that are expected to appreciate in value to your heirs, effectively reducing gift and estate taxes. If you anticipate high estate and gift taxes, the lead trust may be an excellent vehicle for passing assets along to your heirs.
Charitable Remainder Unitrust
The charitable remainder unitrust is a popular trust that allows you to receive an income for life. The percentage of payout is determined at the time the gift is made. Your payments vary from year to year and you can make additions at any time. When the value of the unitrust increases, your payment increases, and vice versa.
Charitable Remainder Annuity Trust
The annuity trust is similar to the unitrust with one key difference, your payments are fixed and determined at the time you establish the trust. You also receive a tax deduction upon the creation of the trust.
What are the Advantages of Making a Gift of Securities?
What if You Still Need the Income Generated by the Stock?
An increasingly popular form of securities gift is a life income gift. Under such arrangements, a donor makes a gift to Chosen People Ministries but continues to receive the income earned by the donated asset. The donor designates who the income recipient or recipients will be. This is a good way to give for a donor who wants to make a gift to Chosen People Ministries now but is uncomfortable about giving up the income derived from the asset.
Stocks that yield little income but are highly appreciated are excellent choices for funding a life-income gift. You can donate these assets to Chosen People Ministries. We can then sell them without incurring the capital gains tax. With the proceeds from the sale, Chosen People Ministries can buy higher yielding stock and pay you the higher income.
By using real estate to fund a gift, you may be able to make a gift to Chosen People Ministries of a size which would otherwise not have been possible. Whether it is a house, farm, vacation home, office building or plot of undeveloped land, your property can be a very helpful gift for you and for Chosen People Ministries.
A real estate gift can provide you with a combination of advantages and tax savings. Some of the benefits of a real estate gift accepted by Chosen People Ministries include:
Because each property and gift plan is unique, any real estate gift will require careful consideration by your legal and tax advisers. They can explain how advantageous a real estate gift can be.
There are several forms a gift of real estate can take:
An outright gift
The simplest of these is to make an outright gift. For an outright gift of real estate to occur, a deed is drawn up that transfers your property to Chosen People Ministries. Chosen People Ministries credits you with a gift equal to the fair market value of the real estate. You are eligible for a charitable income tax deduction for the property’s market value and you avoid any capital gains tax for which you might have been liable had you sold the property. You may donate an entire piece of real estate, or just a portion of it. You may also make the gift in stages. This last approach is often helpful from a tax planning perspective.
A part gift/part sale
The part gift/part sale type of real estate gift is also known as a “bargain sale” because it involves your selling property to Chosen People Ministries at a bargain price. You transfer property to Chosen People Ministries and, in exchange, Chosen People Ministries pays you an amount of money which is less than the property’s market value. The difference between the fair market value and what Chosen People Ministries pays you is considered a gift. You are eligible for a tax deduction and you avoid any capital gains tax on the portion of the transaction that is considered a gift.
A gift with a retained right to income
You can donate your property to Chosen People Ministries and, in exchange, Chosen People Ministries agrees to make annual income payments to you for the rest of your life and to a survivor beneficiary for his or her life. The amount of income you receive depends on the value of the property you donate and the ages of the income beneficiaries. For this type of gift you receive a tax deduction on a portion of the market value of the real estate and generally avoid the capital gains tax. Many people use life income gifts to convert a non-income producing asset, such as real estate, to one that produces an income stream.
A gift with a retained right to live in the donated property
You can transfer your home to Chosen People Ministries and specify in the deed that you are retaining the right to live in the house for the rest of your life or until you decide to leave it. You and Chosen People Ministries sign an agreement which spells out each party’s responsibility with regard to the property. The donor usually continues to be responsible for all expenses except major repairs. At the time you transfer the property to Chosen People Ministries, you receive a tax deduction for a portion of the market value of the property
A gift through your will
You can designate this gift as a specific bequest in your will. On your death, the real estate will be transferred to Chosen People Ministries, or in some instances the estate will sell the property and transfer the proceeds from the sale to Chosen People Ministries. Your estate will receive a charitable tax deduction for the value of the real estate at the time of your death. The language to accomplish this through your will is simple:
I/we give the property at ______________ (insert address or brief description of the property you wish to donate) to Chosen People Ministries, a not-for-profit corporation, incorporated in the state of New York.
Chosen People Ministries’ life income plans provide you with a variety of opportunities to help bring the Gospel to Jewish people while receiving payments for life and valuable tax savings. Chosen People Ministries offers a choice of life income plans which can provide you with fixed or variable payments.
The theory of such a gift is simple. You make an irrevocable contribution of cash or securities valued at $10,000 or more and, in return, receive payments for life or a term of years. After your death the remaining principal will pass to Chosen People Ministries to be used as you have instructed.
Appreciated securities are an excellent way of funding these gifts, often unlocking greater income while eliminating, or at least reducing, capital gains tax.
Why Should You Make a Life Income Gift?
By making a life income gift to Chosen People Ministries, you can have the satisfaction of making a gift now without losing the income from the asset you donate. In addition, you:
What is a Life Income Gift?
There are a number of different life income gift types. While each has its own special features, a basic concept applies to all – you make a gift to Chosen People Ministries but continue to receive the income from what you donate.
When you make the gift, you decide whom you would like to receive the income payments (the beneficiary). It can be you, you and your spouse or another relative or friend. Income will be paid to the beneficiaries for their lifetimes, or you can specify a fixed number of years. On the death of the last beneficiary, your gift becomes available to Chosen People Ministries to use where it is most needed or as specified by you at the time you make your gift.
Some types of life income arrangements available through Chosen People Ministries are:
Chosen People Ministries Gift Annuity
A Chosen People Ministries Gift Annuity is a contract between you and Chosen People Ministries. You transfer cash, stocks, bonds, or real property to Chosen People Ministries and receive guaranteed payments for the rest of your life. The amount of each payment is determined by your age at the time the annuity is initially funded. These payments will never change. Payments can begin immediately or be deferred until the future to supplement a retirement plan. You receive an immediate charitable income tax deduction for the gift portion of the annuity and part of each payment is a tax-free return of principal
Charitable Trusts
By setting up a Trust, you can give to Chosen People Ministries and provide for your family at the same time. A trust can provide for your children, grandchildren or other relatives, with the remainder divided by any number of charities; or a trust can provide for charity for a number of years or a lifetime, and then go to any number of heirs or beneficiaries.
Which Asset is Best for a Life Income Gift?
While almost any asset may be used to fund a life income gift, the best is a highly appreciated, low-yielding asset. By donating an appreciated asset, you avoid paying the capital gains tax for which you would be liable if you were to sell the asset.
By using real estate to fund a gift, you may be able to make a gift to Chosen People Ministries of a size which would otherwise not have been possible. Whether it is a house, farm, vacation home, office building or plot of undeveloped land, your property can be a very helpful gift for you and for Chosen People Ministries.
A real estate gift can provide you with a combination of advantages and tax savings. Some of the benefits of a real estate gift accepted by Chosen People Ministries include:
Because each property and gift plan is unique, any real estate gift will require careful consideration by your legal and tax advisers. They can explain how advantageous a real estate gift can be.
There are several forms a gift of real estate can take:
An outright gift
The simplest of these is to make an outright gift. For an outright gift of real estate to occur, a deed is drawn up that transfers your property to Chosen People Ministries. Chosen People Ministries credits you with a gift equal to the fair market value of the real estate. You are eligible for a charitable income tax deduction for the property’s market value and you avoid any capital gains tax for which you might have been liable had you sold the property. You may donate an entire piece of real estate, or just a portion of it. You may also make the gift in stages. This last approach is often helpful from a tax planning perspective.
A part gift/part sale
The part gift/part sale type of real estate gift is also known as a “bargain sale” because it involves your selling property to Chosen People Ministries at a bargain price. You transfer property to Chosen People Ministries and, in exchange, Chosen People Ministries pays you an amount of money which is less than the property’s market value. The difference between the fair market value and what Chosen People Ministries pays you is considered a gift. You are eligible for a tax deduction and you avoid any capital gains tax on the portion of the transaction that is considered a gift.
A gift with a retained right to income
You can donate your property to Chosen People Ministries and, in exchange, Chosen People Ministries agrees to make annual income payments to you for the rest of your life and to a survivor beneficiary for his or her life. The amount of income you receive depends on the value of the property you donate and the ages of the income beneficiaries. For this type of gift you receive a tax deduction on a portion of the market value of the real estate and generally avoid the capital gains tax. Many people use life income gifts to convert a non-income producing asset, such as real estate, to one that produces an income stream.
A gift with a retained right to live in the donated property
You can transfer your home to Chosen People Ministries and specify in the deed that you are retaining the right to live in the house for the rest of your life or until you decide to leave it. You and Chosen People Ministries sign an agreement which spells out each party’s responsibility with regard to the property. The donor usually continues to be responsible for all expenses except major repairs. At the time you transfer the property to Chosen People Ministries, you receive a tax deduction for a portion of the market value of the property
A gift through your will
You can designate this gift as a specific bequest in your will. On your death, the real estate will be transferred to Chosen People Ministries, or in some instances, the estate will sell the property and transfer the proceeds from the sale to Chosen People Ministries. Your estate will receive a charitable tax deduction for the value of the real estate at the time of your death. The language to accomplish this through your will is simple:
I/we give the property at ______________ (insert address or brief description of the property you wish to donate) to Chosen People Ministries, a not-for-profit corporation, incorporated in the state of New York.
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Watchmen for Jerusalem is a monthly giving program for Partners of Chosen People Ministries (Canada). Donations can be made via recurring direct debit or credit card charges.
“I have posted watchmen on your walls, O Jerusalem; they will never be silent day or night. You who call on the Lord, give yourselves no rest, and give Him no rest, till He establishes Jerusalem and makes her the praise of the earth.” – Isaiah 62:6-7
As a Watchman for Jerusalem, you will:
To give online by credit card or PayPal, click here and complete our online form (please select “Monthly” gift when prompted).
To give by direct debit or credit card by mail, please print out the authorization form. Mail the completed form to Chosen People Ministries (Canada), Dufferin-Lawrence PO Box 58103, Toronto, ON M6A 3C8. NOTE: If you are choosing direct debit, please include a blank cheque to be used by the bank for verification. Be sure to write “VOID” across the cheque.
CHOSEN PEOPLE MINISTRIES (CANADA)
info@chosenpeople.ca
416-250-0177 |1-888-442-5535
Dufferin-Lawrence PO Box 58103
Toronto, ON M6A3C8
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