The Gift Plus Annuity allows a donor to make a charitable donation, increase income for life, lower income taxes, and avoid future investment concerns through a lifetime annuity. Here's how it works.

In exchange for your gift, The Anglican Church of Canada buys you a lifetime annuity from a licensed insurance company. The amount of your annuity payment depends on your age and the size of your contribution, but the rate will usually be quite a bit higher than what you now get from your investments, and it is fully guaranteed. It will continue as long as you live, no matter what happens to the economy or to interest rates. If you are married, you may choose an annuity which continues as long as either spouse lives. View our “Annuity Presentation“ in PDF format online.

Your gift annuity brings you another bonus: depending on the age at which you take out the annuity, a part or all of each payment will be income tax free. A charitable donation receipt issued will result in a tax credit.

Here are three examples:

1. Amanda Richardson, 70, contributes $100,000 for a Gift Plus Annuity with The Anglican Church of Canada to support mission in the North. She gets a lifetime annuity of $4,971 (121% more than with her 4.0% GIC) and a donation receipt for her gift of $30,000 that generate tax savings of $13,110. The gift is immediately available for the ministry of the Church. The annuity payments are guaranteed for ten years, so if Amanda were to die at age 72, the Church would receive annuity payments from the insurance company for eight years, generating a further $38,768 for the work of the Church.
   

Susan and Don Richards, 68 and 73, almost double their income by contributing $20,000. They receive $864 a year for as long as either of them lives. They receive a $6,000 tax receipt which generates tax savings of $2,622.