Charitable Gift Annuities

Increase current Income, Receive Tax Benefits, Satisfy a Charitable Intent

A guaranteed lifetime income is not typically associated with making a gift to a charity. Nevertheless, a lifetime income is the result for an individual who gifts an asset (cash or securities) to a Charitable Gift Annuity.

In addition to the lifetime income, the donor may also receive an income tax deduction, usable when the donor itemizes, preferential treatment of capital gains tax, and an estate tax deduction. Also, another individual (i.e. spouse) can be selected to receive the income for their lifetime as well upon the passing of the donor. When all beneficiaries have passed on the charity receives the residual balance in the gift annuity. Some charities offer the donor an opportunity to customize their future gift. Meaning, where and how the gift will be used. The end result is the donor receives the personal gratification of making a difference in the lives of others and their community while enjoying numerous financial benefits during their lifetime.

The income from a Gift Annuity is determined by the donor's age. For example: at age 65 the payout rate is 6%. At age 75, the payout rate is 7.1%. Once the payout rate is established it never changes. To receive a complementary report on Gift Annuities call The Salvation Army at 800 254 0229 or e-mail your request to: nscpg@uss.salvationarmy.org.