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BEQUESTS, CHARITABLE GIFT ANNUITIES & GIFTS OF STOCK

 

BEQUESTS

In addtition to being a convenient way to distribute your estate, a will is one of the most important documents you will execute in your life. A will can be a personal expression through which you provide for those people and institutions that are important to you. A will is your final message that reflects your personal values and leaves a lasting legacy by which your family and community will remember you.

Legal documents such as wills should always be prepared by an attorney. If you choose to include The Salvation Army of the Syracuse Area in your will, your lawyer should use the following language to ensure that your entire gift is directed to Syracuse Area Services:

“I bequeath to The Salvation Army Syracuse Area Services, with offices at 677 South Salina Street, Syracuse, NY 13202, to be used solely and in its entirety for the ongoing programs and services provided by The Salvation Army Syracuse Area Services, the following: ..."

 

CHARITABLE GIFT ANNUITIES

By creating a charitable gift annuity, you can support The Salvation Army while creating a secure source of income over time. A charitable gift annuity is created by donating cash or securities to The Salvation Army in exchange for routine payments. These payments may be received by you monthly, quarterly, or semi-annually. Payments can be received throughout the course of your life, or over the course of two lifetimes if you'd like a second person to share the benefits of the annuity.

In addition to helping The Salvation Army, your charitable gift annuity offers you some great benefits. Since The Salvation Army is a recognized 501c-3 non-profit organization, you will be eligible to receive a charitable income tax deduction for your gift for its fair market value in the year you make the gift. Any unused deduction amounts may be used to help reduce taxes in up to five upcoming tax years. Your donation may also help you receive capital gains savings. Whatever the form of your gift, you will receive a partially tax-free return of your principle and fixed payments for life.

 

GIFTS OF STOCK

Friends, supporters and professional advisors have long utilized the benefits of making charitbale gifts of appreciated securities to support the work and ministry of The Salvation Army. Making a gift to The Salvation Army of appreciated stock, bonds or mutual funds has never been easier.

Since The Salvation Army is a recognized 501c-3 not-for-profit organization, there are numerous benefits to making your gift of stocks, bonds or mutual funds. For instance, if you have owned the stocks, bonds or mutual funds for more than one year, you can claim an immediate charitable income tax deduction for the fair market value up to 30% of your adjusted gross income in the year you make the gift. Any unused deduction amounts may be used to help reduce taxes in up to five upcoming tax years. 

By giving appreciated stocks, bonds or mutual funds you also bypass the capital gain that would normally be taxable if you were to sell. These types of gifts allow you to use "paper profits" to help offset and reduce your federal and state taxes. Appreciated securities are also ideal for establishing charitable income-producing gifts and charitable trusts.

QUESTIONS ABOUT BEQUESTS, CHARITABLE GIFT ANNUITIES OR GIFTS OF STOCK:

Contact a Planned Giving Representative at 1.888.434.1391