Each year thousands of caring individuals use the Charitable Gift Annuity to secure a lifetime income and provide critical financial support for Salvation Army programs and services in their communities. This time-tested technique has resulted in many gifts that otherwise might not have been made.
What is a Charitable Gift Annuity?
The name says it all. It’s both a charitable gift and an annuity — a secure promise of lifetime income. When you establish a Charitable Gift Annuity you do not sacrifice income from your gift asset. In fact, you may very well be able to increase your income. Your payments will be fixed for life and will not be affected by changes in the stock market.
A Lifetime Income and a Life-Changing Gift
Popular and flexible, the Charitable Gift Annuity is a simple contract between you and The Salvation Army promising fixed payments for life at an attractive rate based on the ages of up to two annuitants. For example, our annuity rates range from 5.7% if you are 65 to 10.50% if you are 90 or older. Your income can begin immediately or be deferred to a later time, such as retirement. You can also fund the annuity with cash or other property, such as appreciated stock or real estate.
But the benefits of a Charitable Gift Annuity do not end with attractive rates.
- Your gift can qualify for major tax benefits.
- You will receive an immediate income tax deduction in the year of your gift.
- A portion of your annuity payments will be tax-free.
- And if you fund your Charitable Gift Annuity with appreciated assets, any reportable capital gain will be significantly reduced and spread out over your lifetime.
Finally, your gift will serve as a personal statement of your commitment to the men, women and children in your community. We will use the gift portion of your Charitable Gift Annuity to support life-changing programs and services.
Ana secured a Charitable Gift Annuity because of what she witnessed. She saw her neighbor Renee high on drugs almost on a daily basis. Ana was worried and concerned, but never said a word. Later, she saw Renee again — clean, employed and with a bright future. Ana asked Renee’s mother what happened. “We have our daughter back!” cried Renee’s mom. “The Salvation Army turned her life around and now she has a purpose for living.”
Ana was so touched; she wanted to help other “Renees” turn their lives around. Upon contacting The Salvation Army, Ana learned she could fulfill her wish to help other young women, and increase her retirement income at the same time.
It’s nice to know you can make a difference in the lives of others while also making a difference in your own.
If you’d like to learn more about the Charitable Gift Annuity, please call Ellen Kazama at The Salvation Army at 440-1862 or 1-877-840-1862 (Neighbor Islands toll-free).