Deed of Covenant Now Available!
Doing A Deed of Covenant for The Church
One of the ways in which Parishioners can give money to the Anglican Church in the Diocese of Trinidad and Tobago is by doing a Deed of Covenant in favour of the Church.
Here is the way it works:
A Deed of Covenant is an agreement whereby one party (the Donor) promises to pay another party (the Donee) a certain sum of money. It may take the form of a single sum of money in any particular year, or a series of payments over a period of time spanning several years. It is more than a mere promise to pay. It is a pledge and can be enforced in law.
A Deed of Covenant is a win-win method for donating funds to the Church. It allows the Church to carry out its mission and you the Parishioner to honour your stewardship and tithing obligations. It also provides a financial benefit to you as the Donor since any sums paid under a Deed of Covenant up to 15 per cent of your total income in any one year is allowable as a deduction against your income for tax purposes.
A Deed of Covenant must be contracted with the Incorporated Trustees of the Anglican Church as the Donee (and not your Parish) since The Incorporated Trustees is the legal entity with charitable status to allow for your donation to be treated as a deduction for tax purposes.
However, you may direct the Diocese to channel your donation, in whole or in part, towards an activity at your Parish or other cause supported by the Diocese. Funds so received by the Diocese will be channelled according to the wishes of the Donor. For example: funds may be directed to Hayes Court Restoration; Holy Trinity Cathedral Restoration; Endowment Fund; general upkeep and maintenance of a specific (named) Parish or cemetery; training of clergy, etc.