You are in: Planned Giving
Planned Giving allows you to arrange your assets to benefit you, your loved ones, and charitable causes now and in the future. Planned Giving offers you a number of options to meet your specific goals and financial circumstances. Congress encourages individual support of charitable organizations and tax laws make it advantageous to donate. Not only do the tax laws reduce the out-of-pocket cost of generosity, they often make possible a much larger gift. The principal of your plan is not available to The Salvation Army until your death or the death of your beneficiaries.
ADVANTAGES OF PLANNED GIVING
- Charitable support of The Salvation Army services
- Lifetime income with no management worries
- Protection for your loved ones through income after your death
- Larger charitable gifts than possible by other means
- Income tax savings through present charitable donations
- Lower or no estate taxes
- Capital gains tax savings by not selling your property yourself
METHODS OF PLANNED GIVING
- Annuity Trust: You transfer cash or securities into an irrevocable trust and a fixed annual dollar amount is paid to you and/or a loved one for life. The Salvation Army receives the trust assets at the end of the life income interests when these conditions have been satisfied.
- Unitrust: This is similar to an annuity trust except the income paid to you is variable. Instead of a fixed dollar amount, the trust agreement specifies a percentage of the trust's fair market value as determined each year.
- Revocable Living Trust: If you don't desire to permanently assign your assets to a trust, a revocable trust allows you to revoke that trust in case of an emergency, or personal desire. After the deaths of all income beneficiaries, any unused principal and income becomes a gift to The Salvation Army.
- Pooled Income Fund: Your assets are pooled into a commingled fund, the value of which will rise and fall with the market value of the fund's assets. Your income depends on how much the fund earned during the year.
- Charitable Gift Annuity: You transfer money or securities to The Salvation Army. In exchange, we agree to pay you and/or a loved one a fixed dollar amount for life. The amount you receive is determined by the size of the gift, your age and the age of any other beneficiary.
- Gifts of Life Insurance: Gifts of life insurance are easy. The Salvation Army is named owner and beneficiary of an existing policy that is no longer needed.
- Wills: If you want your estate passed on as you wish to your heirs and charities of your choice, you must have a will. Without a will, state law decides how your assets will be distributed.
- Gifts of Real Estate: A personal residence, farm, unimproved land, rental property or commercial property can be given to The Salvation Army and an income flow retained.