The Salvation Army offers a number of attractive options for donors who wish to make a significant gift to our services but who are concerned about their long-term income security.
Charitable Gift Annuity
For donors 60 years of age or over, a Salvation Army charitable gift annuity provides a fixed income for life, at a rate which is usually above GIC rates. This income is backed by a full guarantee of The Salvation Army in Canada and is more than fully covered by our investment reserve. Donors receive an immediate tax receipt for a portion of the annuity purchase amount and only part of the income realized from the annuity is taxable.
Your annuity gift provides an additional advantage in that it avoids probate taxes to your estate upon your death. Your gift already has been made and thus is not included in any probate calculations.
Contact us for more information and for a free, no obligation quote, for a Salvation Army annuity.
Charitable Remainder Trust
Charitable remainder trusts are an excellent option for individuals who are 70 years or older and who have made, or who are planning to make, a charitable bequest to The Salvation Army.
A charitable remainder trust is a unique vehicle that allows you to benefit yourself now, and make a difference in the long term, through The Salvation Army. You put an asset into the trust, and get a tax receipt for it now. The size of the receipt depends upon how long the trust will likely be in existence. You, the donor, or your designated family member (s) receive the income from the trust for life. The remainder of the trust comes to The Salvation Army after a prescribed period of time or upon your death or that of the designated family member (s).
Because of the tax rules surrounding such trusts, we recommend that you seek the advice of your legal or financial advisor and use the services of a professional trustee.
For more information on life income gifts, please complete the on-line form, or contact us by phone at 1-800-725-2769 or by e-mail at donor_questions@can.salvationarmy.org. We will send you the information you need or arrange for a qualified representative to contact you.
