Gift Planning
Gifts of Retirement Assets
Help save your heirs up to 60% in tax savings while benefiting the good work of The Salvation Army, simply by making our organization a beneficiary of your retirement fund.
Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a gift to The Salvation Army Great Lakes Division.
If you are like most people, you probably will not use all of your retirement assets during your lifetime. You can make a gift of your unused retirement assets to help further our mission.
Benefits of gifts of retirement assets
- Avoid potential estate tax on retirement assets
- Your heirs would avoid income tax on any retirement assets funded on a pre-tax basis
- Receive potential estate tax savings from an estate tax deduction
How to make a gift of retirement assets
To leave your retirement assets to The Salvation Army Great Lakes Division, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate The Salvation Army Great Lakes Division as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death- saving your heirs thousands of dollars. In addition, your estate will benefit from an estate tax charitable deduction for the gift.
More on gifts of retirement assets
Did you know that 60%-70% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to The Salvation Army Great Lakes Division. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.
Contact us
If you have any questions about gifts of retirement assets, please contact us. We would be happy to assist you and answer any questions that you have.
Please let us know if you have already included The Salvation Army Great Lakes Division as a beneficiary of your retirement assets. We would like to thank you for including us as your charitable family member and welcome you to our Hope Brigade Legacy Society.