Gift Planning
Charitable Gift Annuity
You may be tired of living at the mercy of the fluctuating stock and real estate markets. A charitable gift annuity is a gift made to our organization that can provide you with a secure source of fixed payments for life.
Benefits of a charitable gift annuity
- Receive fixed payments to you or another annuitant you designate for life
- Receive a charitable income tax deduction for the charitable gift portion of the annuity
- Benefit from payments that may be partially tax-free
- Further the charitable work of The Salvation Army Great Lakes Division with your gift
How a charitable gift annuity works
A charitable gift annuity is a way to make a gift to support The Salvation Army Great Lakes Division.
- You transfer cash or property to The Salvation Army Great Lakes Division.
- In exchange, we promise to pay fixed payments to you for life. The payment can be quite high depending on your age, and a portion of each payment may even be tax-free.
- You will receive a charitable income tax deduction for the gift portion of the annuity.
- You also receive satisfaction, knowing that you will be helping further our mission.
If you decide to fund your gift annuity with cash, a significant portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax. Please contact us to inquire about other assets that you might be able to use to fund a charitable gift annuity.
Contact us
If you have any questions about charitable gift annuities, please contact us. We would be happy to assist you and answer your questions.
NEW IRA TO CGA ROLLOVER OPPORTUNITY!
Have you heard about the new Secure Act 2.0? The bill allows IRA holders who are at least 70½ years old to transfer up to $53,000 tax-free to a charitable gift annuity (CGA). The annuity would provide you guaranteed fixed annual income of at least 5% for the remainder of your life. Depending on your age, your rate could be as high as 9.7%! Visit our new IRA to Gift Annuity Rollover page or contact us to learn more.