You can create a lasting legacy and make a difference in the lives of those in need by becoming a member of our Legacy Partners with a planned gift.
For close to 40 years, we have been working to provide food, help and hope to men, women and children in our state. By including the FoodBank in your estate plans, you can help sustain our mission. A planned gift is especially meaningful because it provides long-term support that strengthens our ability to meet challenges down the road in the fight against hunger.
There are several ways to meet your charitable objectives. For example, you can leave a bequest in your will, add the FoodBank as the beneficiary of your life insurance policy or give a gift of retirement assets (IRA, 401k or other retirement plan). We recommend you consult with your legal and/or financial advisor to determine the best option for your circumstances.
Your lasting commitment will enable the FoodBank to continue to meet the basic needs of families who struggle to put food on the table.
If you have any questions about charitable gift planning or our Legacy Partners, please contact Trista Kay, Major Gifts Specialist, at 908-355-3663 ext. 313.
When you include the Community FoodBank of New Jersey in your estate plans, you create a meaningful and lasting philanthropy legacy, one that can take many forms, including:
A bequest is a gift made in your will or living trust. It will not impact your finances during your lifetime, but it will help minimize estate taxes payable after your death. You can make a bequest in a number of ways:
- A cash legacy of a specific amount or a percentage of your estate.
- A specific bequest of property, such as real estate, artwork or jewelry.
- A residuary bequest of part or all of your estate, which remains after payment of other bequests and estate expenses.
A gift of appreciated stocks, bonds, mutual funds or real estate, provided you have held these assets for at least one year, will allow you to receive a tax-deduction for their full current market value while avoiding capital gain taxes on their appreciation.
You can donate an existing or newly purchased life insurance policy to the FoodBank and claim an immediate income tax deduction for the fair market value of the policy. If you name the FoodBank as the beneficiary of your life insurance policy, your estate will be entitled to a tax deduction for the proceeds.
Retirement plan benefits payable upon your death may be subject to both income and estate taxes. If you name the Community FoodBank of New Jersey as the beneficiary, the FoodBank will not be required to pay income tax on the proceeds and your heirs will be relieved of the estate taxes they otherwise would have to pay.
Whether your estate is simple or complex, there is a legacy gift option that could be right for you. Such gifts enable you and your family to realize your personal financial goals while assuring that your commitment to hungry people across New Jersey will live on for many years to come.