How You Can Benefit by Giving at Year End

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by SalvationArmy.ca
Categories: Articles, Blog, Feature, Mobile, Newswire
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As 2019 is quickly coming to an end, now may be a good time to consider donating to a charity. Maximum tax benefits depend on timing and, when you make a gift to The Salvation Army by December 31, you not only help to improve the lives of some of the most vulnerable in society, you strengthen your own financial situation.

“The Salvation Army believes that everyone needs an army and that people need to know they are not alone in their struggles,” says Lt-Colonel John P. Murray, territorial secretary for communications. “For more than 135 years, and through the generosity of our donors and volunteers, the Army has restored hope and dignity to hundreds of thousands of Canadians.”

The Salvation Army provides several methods for making a donation.

General DonationsGeneral donations are simple and direct. You can make an unrestricted donation to be used where the need is greatest, or designate your gift for a specific program.

Gifts of Securities: By donating a stock, bond or mutual fund directly to a charity, you avoid having to pay any capital gains taxes on their appreciated value. In addition to eliminating the capital gains tax, you also will receive a charitable tax receipt for the market value of the shares when received in the Army’s bank account.

“The Salvation Army made my family feel like we were all in this together,” says Amanda, whose husband was laid off. “They were our biggest supporters.”

A large portion of The Salvation Army’s fundraising occurs during its Christmas campaign and at the close of the calendar year. These donations set the precedent for the upcoming year and help us to continue to work with struggling individuals and families.

Donations to the 2019 Christmas Campaign can be made online at SalvationArmy.ca, by calling 1-800-SAL-ARMY (725-2769), or via mail to The Salvation Army, 2 Overlea Blvd, Toronto, ON M4H 1P4.