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Thank you for your interest in The Salvation Army. Our hope is to serve you and your family with helpful information. We have an increasing number of friends at Salvation Army who now are benefiting from life income gifts, gift annuities and other plans. Thank you for taking the time to explore the benefits of gift planning.
If you are over 70½, you are eligible to make an IRA charitable rollover to public charities like The Salvation Army. And like other IRA rollovers -- it will not be included in your federal taxable income.
While there is no added deduction for an IRA charitable rollover, avoiding additional taxable income may save substantial income taxes. An added bonus is that up to $100,000 of an IRA charitable rollover this year will qualify for all or part of your required IRA minimum distribution requirement.
Charitable IRA rollovers are popular for several reasons:
Most of us, if given the chance, would like to leave a lasting legacy to show we have made a difference - that we have contributed to an important work or cause that will benefit the lives of others for generations to come. While your legacy will consist of the assets you leave behind, it will be much more than that. Your true legacy will be defined by the values, the hope and the convictions you bestow upon the world.
Your legacy plan will be a permanent reflection of your personal values and your love and concern for your family, your friends and your community.
As you plan for both the present and the future, we are honored that you would consider The Salvation Army as a partner. Every day throughout your community The Salvation Army is creating a better tomorrow by focusing on today's needs. Warm meals. A place to rest. Encouragement. Help. Hope. We pledge to do the most good with your generosity, for those you help today and for the generations you will help in the years to come.
Through The Salvation Army's popular and flexible charitable gift annuity program, it is possible to make a significant gift while meeting your own long-term financial needs, or the needs of a loved one.
A charitable gift annuity is an agreement between you and The Salvation Army. In exchange for your irrevocable gift, The Salvation Army pays a fixed dollar amount during your life and/or the life of a designated loved one. The amount you receive is determined by the size of your gift, your age and the age of your income beneficiary. The income is guaranteed, regardless of market fluctuation. A portion of your gift annuity income will be income tax-free.
Your gift can be arranged to provide income in your retirement years or to provide financial support for a family member or friend. With a charitable gift annuity, you can often increase your spendable income, reduce your taxes, and make a gift that will have a substantial impact. You benefit now and The Salvation Army benefits later - after you have enjoyed all of your financial and tax benefits.
For caring people, decisions regarding estate management can be challenging. Maintaining financial health for one's self, spouse, children, loved ones, and supporting a favorite charity can be a challenging task. However, there is a way to make your assets work for you, your family and others.
One method of making a gift with a retained right to income is a charitable remainder trust. A charitable remainder trust transfers ownership and management of cash and/or securities to The Salvation Army or another trustee. The Salvation Army or trustee manages the trust and pays income to you for the remainder of your life and/or the life of another beneficiary.
For more information contact Jeff Johnson at firstname.lastname@example.org or call 907-339-3421