Giving Options for Holy Family Parish

“For where your treasure is, there your heart will be.”

Matthew 6:21

Please see below for all the ways you are able to financially give to Holy Family. Our activation as a Family of Parishes allows us to work together and share in many ways. Each parish does remain separate canonically which means they retain their own individual name as well your donation stays with your parish .

Online Giving

We have replaced our digital/online giving platform, Give Point, with a new, secure online donation service from Pllenty. We have chosen this platform as it was sponsored by the Diocese, is more efficient, is very secure, and is beautifully aligned with our database which offers greater ease and accuracy.

All donations will be included in your annual tax receipt. It allows you to direct your donation to the fund of your choice and set up the frequency of your donation.

Interac E-Transfer

To donate by Interac e-Transfer, simply set up the email address ‘hfparish@dol.ca’ as a recipient, choose the amount you wish to give, and press send! No password is required.

Automatic Giving ( Pre-Authorized Debit)

If you wish to make your Sunday offertory contributions through automatic bank withdrawals (pre-authorized debit), please complete this form, email it and a copy of a void cheque from your bank account to Teresa Easter, our Bookkeeper, at tmeaster@dol.ca. It is a great way to be free of envelopes!  When you give by pre-authorized debit you can set up a recurring gift and have the peace of mind that your parish family and local community are supported – without having to remember your envelope! This form of giving greatly helps our parish community to budget for the future. 

If you do not have a cheque, please ask your bank to provide the appropriate Form indicating your account number, bank number, and branch number.

Planned Giving

Planned giving is all about planning to make a gift to Holy Family Parish. Planned gifts are typically funded through specific assets or accumulated resources, as opposed to regular income, which allows for more opportunities for tax related benefits.

Registered Assets

Donating Registered Retirement Savings Plans (RRSP’s) or Registered Retirement Income Funds (RRIF’s) allow you to create a legacy for Holy Family Parish once your needs and those of your loved ones have been met.

When you die, your estate must pay taxes on the balance of your RRSP or RRIF as income if you don’t have a surviving spouse or qualifying dependents. Donating all or part of an RRSP or RRIF to Holy Family Parish is a very effective way to reduce the taxes payable by your estate.

A gift of registered assets will enable you to fulfil goals dual goals of supporting your favourite charity while reducing the amount of taxes that your estate would have to pay. If the RRSP or RRIF has Holy Family Parish as the direct beneficiary, the estate will receive a donation receipt for the entire value of the plan.

Two Ways to Donate

There are two ways in which you can donate the proceeds of an RRSP or RRIF:

  1. Name Holy Family Parish as the direct beneficiary of your RRSP or RRIF. Upon your death, the proceeds will be paid directly to us.
  2. Name your estate as the beneficiary of your RRSP or RRIF and leave instructions in your will to donate part all or part of the value to Holy Family Parish. You can specify either a fixed dollar amount or a percentage of the value.
Gift of Life Insurance

Life insurance is a very effective way in which a significant gift in the future, at an affordable current price, can be given that does not affect the value of your estate. You can either give an existing policy or take out a new policy naming Holy Family Parish as the beneficiary.

Make a Gift of Life Insurance

There are four easy ways to make a gift of life insurance:

  1. Take an existing policy that has finished serving its original purpose and transfer the ownership and beneficiary designation to Holy Family Parish. Although the designation cannot be changed, a tax receipt will be issued for the value of the policy at the time of transfer and on any continued premium payments.
  2. Purchase a new life insurance policy and name Holy Family Parish as the owner and beneficiary. This can only be done after one premium payment has been made. You continue to pay the premiums and receive a tax receipt for those payments.
  3. Name your estate as the beneficiary of your life insurance policy and then make the same dollar amount of a bequest in your will to Holy Family Parish. Your estate will then be able to claim the donation for tax purposes in the full amount of the insurance proceeds. 
  4. Name Holy Family Parish as the beneficiary of your group life insurance policy. The designation can be changed at any time. You will not receive a tax receipt for any premiums paid during your lifetime; however, your estate will be in a position to claim a donation for the full amount of the policy.
Bequest – Leaving a Legacy

A bequest to Holy Family Parish through your will creates a legacy. It is easy to establish and it doesn’t require any funding in your lifetime. The bequest can be for a specific amount, the residual of your estate or a percentage. Holy Family Parish issues a tax receipt for the full amount of your bequest. This process provides peace of mind, as you are always in control of the gift and can adjust your will, if needed, at any time. 

A bequest symbolizes a lasting legacy for you and your family.

Endowment

Creating a charitable fund through Holy Family Parish enables you to benefit the parish now, and forever, with a permanent gift. Earnings through your fund will be used to support the Vision and Mission of the parish, and the capital will continue to do good work now and in the future.

Legacy and Stability

Donors who endow their assets (gifts) can make a substantial difference during their life, and, continue to provide those gifts forever. These gifts continue to be made in the name of the endowment you establish so that your charitable wishes are preserved.

Gift of Real Estate

The gift of real estate allows you to use the fair market value of your property as a gift to Holy Family Parish and receive a tax receipt. Examples of real estate gifts include (but are not limited to): land, residences, commercial property, and farms. One benefit of this is that your estate is simplified on death while giving to Holy Family Parish during your lifetime. This method of giving has great appeal to those who are interested in tax relief now and not in need of the monetary value of the property going to their estate.

Once you decide on making this real estate gift, Holy Family Parish will begin the property valuation process. We do this by engaging a certified real estate appraiser who gives a value to the property. We then provide a deed for you to sign to transfer the property to Holy Family Parish and, once signed, we give you a tax receipt for that value.

Residual Interest

This type of planned gift allows the donor to maintain possession and use of property, even after it is deeded to Holy Family Parish. An example of this is where you give a residual interest in your cottage but continue to use and enjoy it over your lifetime. These types of gifts are usually given by those who plan to give the property through a will bequest but would like to reduce their current income tax exposure without making any changes to their current living arrangements.

The property is appraised, and the value is determined. A deed is drawn up and signed by both parties and then you are entitled to a tax receipt for the current value of the residual interest.

Charitable Remainder Trust

In a Charitable Remainder Trust, you donate an asset through a trust agreement to Holy Family Parish. A Charitable Remainder Trust is established by contributing shares, mutual funds, real estate or bonds to a trustee who then holds and manages them. You may choose a Charitable Remainder Trust because you have an asset that you would eventually like to give to Holy Family Parish, but you need the income it currently provides. A tax receipt will be issued when assets are transferred to a trust that names Holy Family Parish as the capital beneficiary.

To discuss your planned gift or any form of giving please contact us:

Tim Firth – Mission Support Team Lead
Holy Family Parish
777 Valetta Street
London, Ontario N6H 2Y9
519-472-0057 ext. 224
tfirth@dol.ca

Reach out to us if you have any questions about the Ways to Give. We are here to help.