The Salvation Army is committed to helping people, without discrimination, in every community for generations to come. However, without a stable source of adequate funding, Salvation Army programs designed to help people are in jeopardy. One way donors can help with this is to create an endowment, or endowed fund, that benefits The Salvation Army.
Basics of endowments
Endowments can be started by anyone, for virtually any purpose, and anyone can contribute to them. You can use almost any asset to start an endowment. Most importantly, endowments are designed to help The Salvation Army forever.
The asset(s) are converted to cash and then invested by The Salvation Army's trusted financial services firm, BNY Mellon. A fixed annual distribution based on earned income will provide for the designated fund purpose. The rest is reinvested back into the endowment so it can grow over time.
If you want to ensure The Salvation Army receives the same level of annual support from you after your lifetime, creating an endowed fund may be right for you! This is an excellent way to ensure your legacy will live on in perpetuity.
Examples of different endowment types
Any kind of endowment gift is possible--we welcome you to contact us about your passion!
- You can designate the use of your gift to a particular service or program provided by The Army.
- You can designate the geographic area that you wish your gift to support.
- Funds can be established in your family name, in memory of a loved one, or in honor of someone living.
Local endowment program
The Salvation Army Hometown Endowment, created to ensure continuous, stable funding for local Army programming, supports social services and daily operations wherever The Salvation Army is needed. The fund's principal remains intact to provide funding year after year, in good times and bad. Contact us to see if your community has a Hometown Endowment Fund set up.
Facts about gifts to The Salvation Army's Hometown Endowment:
- Outright donations of cash, stocks, bonds, life insurance and other gifts by will or in trust are acceptable. Real property is welcome, subject to The Army's policy for such gifts.
- Gifts are deductible on your income tax return if you itemize allowable deductions.
- Gifts can be arranged to pay life income to you and your spouse, with the remainder going to the Hometown Endowment to benefit your community. These "life income" gifts usually provide significant gift, income and estate tax benefits.
- Hometown endowments are not used for capital improvements or expansion.
- Fund earnings are distributed to the Salvation Army operating in your local community.
The Salvation Army is calling upon you and other concerned citizens to help make the Hometown Endowment Fund a strong support system. Your personal commitment now will help assure The Army's ability to carry on its vital work in your community today and for years to come.