“Generous giving stems from an attitude of gratitude for all the gifts God has given.”
By Sara Francis
Gratitude, generosity, and gift-giving are top of mind for many during the season of Advent and Christmas. They are also central to the spirituality of stewardship. Generous giving stems from an attitude of gratitude for all the gifts God has given.
This Christmas, why not include St. Michael’s Parish to your gift list by donating stock or life insurance?
St. Michael’s finance council member Ted Williams dug into the nuts and bolts of how to give generously during a presentation at the parish about financial planning in November.
A planned gift is a donation that goes beyond simply giving cash or writing a cheque. Some examples include bequests, publicly traded securities, RRSPs, and life insurance policies.
“If you have these resources, you might be willing to make the beneficiary the Church,” said Williams, who is also a financial advisor with Investors Group.
The most common gifts are giving money, writing cheques, donating shares, or life insurance. “Those are the big ones to help out an organization,” Williams said.
He urged parishioners to think outside the box and get creative with charitable giving after family needs are met. For example, there’s been talk of getting a rectory for the priests. One way to achieve this goal is for someone to buy the rectory and rent it out. St. Michael’s could give a tax receipt for market value.
“I think the point is just writing a cheque is one thing, but there are other ways of donating, it’s just like there are other ways of investing other than pretty basic. As you get more resources and money, there are different things you can do,” said Williams.
“One thing we don’t do is give people a lot of recognition if they make a big donation,” said Williams. “Let’s say somebody gives $100,000 and to them, that’s a big sum of money. Someone else might give $500, but to them, that’s a lot of their net worth. You don’t want to acknowledge one person over another. If you donate, we know who you are.”
A financial advisor can help to get the greatest tax benefit. For more information about making a planned gift and getting the greatest tax benefit, contact your financial advisor, or you can email Williams at Ted.Williams@investorsgroup.com, or call 403-461-6577.
“We all end up in a box somewhere or an urn. At the end of the day, who’s going to remember you? Your family hopefully, your friends,” said Williams. “If you leave this place a better place that’s what it comes down to. If you think you can help, then there are ways of thinking about it.”