For more information on any of the topics below, contact our Planned Giving expert, Steven Francis, J.D., LL.M., Ph.D., CAP at 231.735.4081. Please scroll below to learn more about Dr. Francis and his credentials.
The Salvation Army is a worldwide organization committed to serving people, changing one life at a time. Our diverse ministries attract a wide variety of participants and supporters, from single parents needing help to dedicated volunteers seeking meaningful outlets for service to philanthropists and charitable foundations wanting to contribute to their community.
The Salvation Army works every day to make life better for countless people in your community. Your gift can enable us to serve nutritious meals to older adults, shelter homeless families, help men overcome addictions, provide after-school tutoring and recreation, and send inner-city children to summer camp.
A tradition since 1891, the familiar red kettle at Christmas not only collects funds for seasonal assistance to individuals and families in need, but also enables The Salvation Army to operate year-round. In many communities The Salvation Army is a member of United Way and you may make a designated gift through them.
A planned gift is arranged by you legally during your lifetime. The principal benefits accrue to The Salvation Army at a later time, after your death or the death of your last named beneficiary. Planned gifts take many forms, providing additional income for you and/or your heirs, reducing income and estate taxes, relieving you and your heirs of complicated financial management responsibilities and helping to fulfill your personal, humanitarian and charitable objectives. Planned gifts can be made in cash, real estate, stocks, bonds, personal property or life insurance.
One of the simplest planned gifts is a bequest through your will in which you designate either a specific dollar amount or a percentage of your estate after other disbursements. In addition to supporting The Salvation Army, it serves as an example to your heirs of the values and ideals you hold dear. A bequest also can reduce the amount of your taxable estate, which may increase the actual amount available to loved ones.
A gift annuity is an agreement between you and The Salvation Army. In exchange for your irrevocable gift, The Salvation Army pays a fixed dollar amount during your life and/or the life of a designated loved one. The amount you receive is determined by the size of your gift, your age and the age of your beneficiary. 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.
Charitable Remainder Trust
A charitable trust transfers ownership and management of cash and/or appreciated securities to The Salvation Army. The Army manages the trust and pays income to you for the remainder of your life and/or the life of another beneficiary. An annuity trust provides a fixed annual income for those wanting consistent, predictable payments. A unitrust pays a variable return based on market changes, providing an effective hedge against inflation.
Pooled Income Fund
A pooled income fund is a trust designed to provide variable yet reliable income. Like a commercial mutual fund, it combines your gift with the contributions of other fund participants, wisely investing the sum for a balance of income and growth. Dividends are paid to the shareholders in proportion to each person’s contribution. Your donation results in a tax deduction for the year your gift was made, elimination of capital gains tax if you invest appreciated securities, and reduction of estate taxes for your heirs.
Contributions of life insurance can provide a substantial gift to The Salvation Army. The value of an ordinary policy at the time of the gift is tax deductible. If you continue paying the premiums, they also are deductible as charitable contributions. If a paid-up policy is given, the cost of purchasing a new paid-up policy at your current age is the value of the charitable deduction.
A hometown endowment is a perpetual gift that can be designated for a specific Salvation Army location or program. The original gift remains intact, and the income is used toward the designated area of service. An endowment can be established in memory of a loved one or a donation can be added to an existing fund that will contribute to your local community indefinitely.
Salvation Army planned giving advisors are professionals with many years of experience in estate and gift planning who care about your goals and plans. They will work with your attorney or accountant to explain the many gift opportunities available to you and the financial advantages of each. Contact The Salvation Army to learn how confidential, personal financial planning can help you achieve your goals while helping to sustain our life-changing mission.
Meet Steve Francis
Steven Francis, J.D., LL.M., Ph.D., CAP, is a senior member of The Salvation Army WMNI Personal Philanthropy Planning Department. He has nearly eight years of estate planning and wealth management experience working with individuals, families and professionals throughout Northern Michigan. He is available for free consultation with professionals and financial supporters of The Salvation Army who are interested in realizing their dreams of making the world a better place by maximizing the effective stewardship of financial resources. He can be contacted at 231.735.4081.