The Salvation Army has many financial planning options to help you plan future charitable collaborations with the organization’s goals that are aligned with your various philanthropic missions. With corporate partners such as Papa John’s, JCPenney, and Target, the Salvation Army is dedicated to helping people through everyday poverty related obstacles such as lack of food, shelter and necessary items to live their lives.
To help mitigate the threat of hunger that affects American families all over the country, The Salvation Army serves 60 million meals to anyone in need through its many soup kitchens, sit-down meal programs, food pantries and community gardens. As a fundamental part of this organization’s mission, these nutritious meals assist homeless people of all ages. In addition to aiding homeless individuals on a large domestic scale, the organization also helps individuals and families may be struggling and in need of some extra assistance in their day to day lives.
If you happen to be interested in donating and volunteering at this organization, meeting with the Salvation Army’s planned giving advisors can offer insight in terms of creating collaborative goals for both parties involved.
The Salvation Army is willing to work with financial consultants, lawyers, and other professionals to make sure each donation option best fits your needs. The following donation options are great ways to think about potential forms of donation that can foster a mutual relationship between the donor and the organization involved.
A gift agreement between the charitable organization and donor, The Salvation Army pays a fixed dollar amount during your life and/or the life of a loved one. The amount received is determined by various factors such as age, donation amount, etc. Your income is guaranteed, regardless of market fluctuation. A major portion of your income is a tax-exempt return of principal and the income may be deferred until a later time as part of your retirement plan.
Pooled Income Fund
Similar to a mutual fund, a pooled income collectively combines the income of various donors which create a large sum. Within the pooled income, dividends are paid to the shareholders in proportion to the specific amount each individual contributed, A primary benefit of contributing to a pooled income fund is a tax deduction for the year your gift was made. Also, this pooled income fund gets rid of capital gains tax if you invest appreciated securities and reduction of estate taxes for your heirs in future generations.
A hometown endowment is a gift that is focused on a primary location or area. The original gift amount is therefore used in an area of service within the specific locale agreed upon once the first donation is initiated. The hometown endowment can either be used as a simple donation that contributes to your local community or can be donated on behalf of a loved one.