Planned Giving/Charitable Gift Annuities/Wills
A Planned Gift comes in different forms, simply put, it is the process of naming The Salvation Army as a charitable beneficiary of an estate plan. All gifts made to The Salvation Army may be designated to benefit a specific geographic region, age group or program. There is a joy in knowing that you have helped ensure the financial future of charitable causes you feel are important.
An effective estate plan balances your personal and family goals and values with your charitable interests through financial planning. We suggest you review any existing plan periodically with your advisors. This is especially important when changes in personal and financial circumstances occur.
The benefits of charitable giving are many, whether your gift comes through a bequest or during life giving opportunities. Almost every charitable gift can be considered an investment.
Giving Opportunities Include wills, stocks, revocable living trust, life income gifts, charitable gift annuity, charitable remainder trust, life estate, real estate, and retirement account, as well as other gift types.
Creating a Charitable Gift Annuity
By creating a charitable gift annuity, you ensure support for causes you care about 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 the donor monthly, quarterly, or semi-annually. Payments can be received throughout the course of your life, or over the course of two lifetimes if you wish for a second person to share your benefit.
Benefits To You
In addition to helping our many causes, your contributed charitable gift annuity offers other 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.
In addition to being a convenient way to distribute your estate, a Will is one of the most important documents you will execute during 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 attorneys. You will find different rules in every state for execution of a Will. However, the following are typical requirements in making a Will:
- The Will should be in writing and signed at the end by the person executing the Will, called a testator (man) or testatrix (woman). The testator or testatrix must sign the Will in the presence of two or three disinterested witnesses.
- The testator or testatrix must have each witness sign his name affirming that the Will was signed by the testator (ix) and acknowledged, as a last Will and testament.
- The person executing the Will must be considered mentally competent when the Will is executed.
The Salvation Army submits these sample bequest forms for the information of donors and friends - and especially for the guidance of attorneys preparing Wills containing bequests for The Salvation Army Lower Bucks County Levittown Corps.
A general bequest or designation for The Salvation Army will be divided for the benefit of a broad range of uses within your Corps, the Division and the Eastern Territory of the Army. If you wish your gift to be designated exclusively for the benefit of a specific Salvation Army unit, program or Corps then it is essential to be specific in the language of the bequest or designation.
For guidance on how to designate your bequest for the benefit of our operations in Bucks County, contact Adela Davis, Development Director, at 215-945-0717 ext. 15 or firstname.lastname@example.org OR Sharon Somers, Planned Giving Representative at 215-787-2840 or email@example.com for any questions you or your attorney may have.
For gifts designated to a specific corps or service unit or restricted for a specific program:
"I give to The Salvation Army, a charitable organization with offices located at 215 Appletree Drive, Levittown, PA 19055 $ (specific dollar amount or %), and/or securities or other property described as follows ____________________________________, to be used exclusively for the benefit of (Salvation Army Levittown or specific program)."
For gifts to be restricted to a specific Hometown Endowment Fund:
"I give to The Salvation Army, a charitable organization with offices located at 215 Appletree Drive, Levittown, PA 19055 $ (specific dollar amount or %), and/or securities or other property described as follows _____________________________________, for the exclusive benefit of the endowment fund of (Salvation Army Levittown Corps or specific program).
NAMED ENDOWMENT FUNDS
For a minimum gift of $25,000 you can establish a segregated named endowment fund in your family name or in memory of someone you wish to honor. Only the earnings of this fund will be used to benefit The Salvation Army in your hometown or a specific program you wish to support.
"I give to The Salvation Army, a charitable organization with offices located at 215 Appletree Drive, Levittown, PA 19055 $ (specific dollar amount or %), and/or securities or other property described as follows _____________________________________, to be used to establish the (John Doe Endowment Fund) for the exclusive benefit of (Salvation Army Levittown Corps or specific program).
Please note that the above represents the current bequest language recommended by the Salvation Army for designated and restricted gifts as of the date of this posting. From time to time these language requirements change. For Bucks County donors please call Adela Davis at 215-945-0717 ext. 15 or call our Office of Planned Giving in Philadelphia at 1-800-262-2523 to inquire of any changes.