A guaranteed lifetime income is typically not associated with making a gift to charity. Nevertheless, a lifetime income is often the result when an individual gifts an asset (such as cash or securities) to a charitable gift annuity.
In addition to lifetime income, you also receive immediate income tax charitable deductions, preferential treatment of capital gains tax and an estate tax deduction. Also, another individual - a spouse, for example - can be selected to receive the income for their lifetime upon your passing. When all beneficiaries have passed on, the charity receives the residual balance in the Gift Annuity.
To receive a free report on gift annuities, call The Salvation Army today at 800.254.0229.