Many people do not realize that they do have the means to make a real difference with a generous gift. They focus on their available cash, and forget that their property can be the source of a gift.
Any possession a person owns that The Salvation Army can utilize, use as an investment, or convert to cash, can be made a gift to The Salvation Army. Such gifts can provide you with a significant tax receipt, and in the case of larger properties can be used to provide you with a new or increased source of income. A property can be used to source a Charitable Gift Annuity or a Charitable Remainder Trust.
In the past, the threat of Capital Gains Tax was a significant deterrent to the gifting of appreciated property.
Tax rules now provide the opportunity to gift appreciated property, and avoid some or all of the capital gains tax. If the gifted property is given to fund an annuity or remainder trust, then a low-income appreciated property can actually provide a higher income through being gifted to The Salvation Army.
TYPES OF PROPERTY
Private or commercial buildings and land can be gifted to The Salvation Army. Securities of various kinds, personal possessions such as cars, and other items can be given to the Army to continue its good work in the community.
THE NEXT STEP
A representative of The Salvation Army would be glad to talk to you about this or other kinds of gifting to The Salvation Army, and would be pleased to work in conjunction with your lawyer or financial advisor.
Contact us by phone at 1-800-725-2769 or by e-mail at donor_questions@salvationarmy.org . We will send you the information you need or arrange for a qualified representative to contact you.
