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PLANNED GIVING
Friends of The Food Bank @ St. Mary's
By including The Food Bank @ St. Mary's in your will, trust, or retirement plan, you will make an ongoing commitment to support our community with hospitality, respect, and nutritious food.
The Food Bank @ St. Mary's invites you to join the Legacy Garden, a group of supporters, families and friends who value and recognize the impact of philanthropic planning and have included The Food Bank @ St. Mary's in their wills or other gift planning arrangements. Creative and flexible gift planning can provide financial advantages for donors, their families, and The Food Bank @ St. Mary's. The framework and funding options vary, including current, deferred, or life income gifts.
If you have already provided for The Food Bank @ St. Mary's in your will or trust, please inform us so that we may recognize your generosity. We look forward to including you as a member of The Food Bank @ St. Mary's Legacy Garden.
Gift of Appreciated Securities:
A gift of appreciated securities, such as stocks, mutual funds, and bonds can provide benefits to a donor. An outright gift of long term appreciated securities (securities held for more than one year) bypasses capital gains tax and, in many cases, the benefactor obtains a charitable income tax deduction equal to the market value of the securities.
Gift of Real Estate:
A gift of commercial or residential real estate can be given outright to support the purposes of The Food bank @ St. Mary’s and qualify for a charitable income tax deduction based on the appraised value of the property. In addition, a home or land that is no longer wanted or needed can fun a unitrust or other life income gift.
Charitable Gift Annuity:
A charitable gift annuity is a contract between the donor and The Food Bank @ St. Mary’s that provides advantages for both, including the following benefits:
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guaranteed fixed payments, a portion of which is nontaxable
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charitable income tax deduction for a portion of the gift
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reduced capital gains taxes
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support for the Food Bank @ St. Mary’s Legacy Garden
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charitable gifts annuities may be funded with cash or securities. Payouts can be made annually, semiannually, or quarterly, with rates based on the age of the donor at the time the gift is made.
Charitable Remainder Unitrust:
A charitable reminder unitrust pays the donor a predetermined percentage of the fair market value of the trust’s assets as a revalued annually. Additional contributions may be made to a unitrust over time. The unitrust may be designated for The Food Bank @ St. Mary’s Legacy garden.
Deferred Charitable Gift Annuity:
A deferred gift annuity is similar to a charitable gift annuity, except that the payments are deferred to a future date. In addition, the donor obtains a charitable income tax deduction in the year the gift is made. A donor may defer payments to years when income is needed more.
Gift by Will:
A gift through one’s estate can provide support to The Food bank @ St. Mary’s in any dollar amount. The gift can be made through a will or trust, as a specific dollar amount, percentage of estate, or specific property.
Sample Wording for a Bequest by Will is:
“I give to The Food Bank @ St. Mary’s, a Washington State 501 (c)(3) nonprofit with the tax ID # 91-1989445 and located at 611 20th Ave S, Seattle WA, 98144, the sum of $________ ( or _____ % or my estate; or the property described herein).”
Gift of Life Insurance:
A donor can use a life insurance policy to support The Food Bank @ St. Mary's by naming the organization as the owner and beneficiary of an excising, or newly created, policy.
Gift from a Retirement Account:
Transfer of an IRA or Pension Plan to a qualified charitable organization makes it possible to bypass potentially high income and estate taxes. This can be done by making The Food Bank @ St. Mary’s the beneficiary of all or part of your IRA or retirement account.