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Planned Giving

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For more information, contact:

THE SALVATION ARMY
Office of Planned Giving
Jim Peterson
(608) 219-7000

How can I help The Salvation Army?

PLANNED GIVING

1.  WILL

  • Several alternatives: percentage of estate, monetary amount, specific property or contingent beneficiary
  • May incorporate charitable trusts
  • Estate tax benefits
  • Revocable

2.  GIFT ANNUITY

  • Fixed annual income for life:  partially tax-free; based on age and gift amount
  • Partial income tax deduction
  • Potential gift and estate tax benefits
  • Avoidance of probate
  • Irrevocable
  • Minimum contributions: $1,000 for two lives, $ 500 for one life

3.  DEFFERRED GIFT ANNUITY

  • See benefits of Gift Annuity (above)
  • Payments at least one year after date of gift
  • Increased income at retirement
  • Income tax credit for year of gift

4.  LIFE INSURANCE

  • The Salvation Army as sole or partial beneficiary
  • Paid-up policy: no additional costs
  • New policy: installment gifts
  • Potential income, gift and estate tax benefits

5.  REMAINDER INTEREST IN REAL ESTATE

  • Life estate in home, farm or other property: care for property, pay taxes, receive any income generated.
  • Remainder to The Salvation Army
  • Income tax deduction for present value of remainder interest
  • Potential estate tax benefits
  • Avoidance of probate
  • Irrevocable

6.  CHARITABLE REMAINDER TRUST

  • Annual income for life or term of 20 years or less:  fixed percentage of initial trust principal, or; percentage of annual principal balance
  • Remainder to The Salvation Army
  • Income tax deduction for present value of remainder interest
  • Potential estate tax benefits
  • Irrevocable

7.  POOLED INCOME FUND (PIF)

  • Life income based on fund performance
  • Partial income tax deduction
  • Potential estate tax benefits
  • Irrevocable
  • Ideal for smaller gifts

8.  OUTRIGHT GIFT

  • Income tax deduction for full value of cash gifts and stock with long-term capital gain
  • Bypass tax on long-term capital gain property

 

*This information is not professional or legal tax advice. The advice of a professional advisor is highly recommended.

 


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