The Future is Now
A Charitable Gift Annuity from The Salvation Army is a commitment to the future. It is a way to guarantee that the humanitarian work of The Salvation Army carries on forever. It is your contribution to eternal hope.
The best part of The Salvation Army Gift Annuity program is that your donation not only helps us perform our valuable services in your community, it also provides security for your own future.
The Salvation Army Charitable Gift Annuity program has been in existence for over 75 years. Because the Gift Annuity is a legally binding contract with The Salvation Army, it is secure and durable, with all of the Army’s unincumbered assets pledged as security for the payments.
There is another pledge that The Salvation Army makes to you. We will use your gift to continue the ministry and services to people of all races, creeds, and cultures, wherever we serve. So, you can do something great for the Army, those we serve, and yourself – all at once.
It Works Both Ways
A Charitable Gift Annuity starts when you donate $5,000 or more to The Salvation Army. The amount can be – and often is – much larger. The more you give, the more good we can do.
In exchange, The Salvation Army agrees to pay you a guaranteed annual amount that remains constant for your life.
But it doesn’t end there, because your annuity agreement can include a survivor annuitant, too. After your gone, one person of your choosing – your spouse, a dependent, or a friend – can continue to receive the annuity payments for the rest of his or her life. If an annuity is funded with jointly owned property, the payments will be made to both donors for life and then for the life of the survivor.
Another option is for you to name another person as the sole annuitant; that person receives the income and you get the benefit of the income tax charitable deduction!
The amount of the payment depends on the age(s) of the annuitant(s) at the time you make the gift. Once established, this annuity amount will never change. Payments can be made annually, semi-annually, or quarterly. The payment is made promptly by electronic transfer or mail.
Tax Savings For You
The Salvation Army understands that you are considering a Charitable Gift Annuity because you believe in our mission to help those who need it most. But it is hard to ignore the obvious benefits as well. Part of your contribution for the annuity is considered a charitable gift and may qualify for the income tax charitable deduction. A portion of each annuity payment may be tax-free throughout your actuarial life expectancy. The annuity may also save estate taxes. If your annuity is funded with appreciated securities and you are an annuitant, special favorable rules apply to the capital ganes tax treatment.
Because the exact tax consequences of the annuity vary according to your tax bracket, financial circumstances, and the property donated, The Salvation Army’s representatives will be happy to answer any questions you and your advisors may have.
Is It Your Best Choice?
The Charitable Gift Annuity is but one of the life income plans offered by The Salvation Army. When considering it as one of your financial options, consider the following advantages:
*Valuable support for The Salvation Army’s charitable programs
*Simple and easy to understand
*Safe, with proven security
*Regular, guaranteed income payments for life – for you and/or another annuitant
*Preferential treatment of capital gains
*Income tax charitable deductions for itemizers
*Part of your payment may be tax-free for the period of your actuarial life expectancy