Introduction to Legacy Giving Legacy/Planned Giving
For many of our donors, legacy giving is the perfect way to express support for our hunger-relief efforts. Legacy gifts help us secure and distribute food and groceries to those in need, raise public awareness of hunger in our country, and promote viable solutions to the problems of hunger and waste.
Legacy gifts often provide financial benefits to the donor, too. Tax savings, current cash payments, supplemental support for family and friends – these and other benefits are available depending on a donor's circumstances and objectives.
What are Legacy Gifts?
Legacy gifts are gifts other than outright gifts of cash or publicly traded stocks. You may wish to make a gift through your will or trust, use different types of assets or create a gift which pays you income back. Each of these options may be considered “legacy” or “planned” gifts.
Why would I create a Legacy Gift?
There are many different reasons for creating a legacy gift. Many people wish to continue their support of Feeding America after they are gone and leave a gift in their wills to do so. Others see the benefit of using their unneeded life insurance policies as the basis of their gifts. Still others want to create charitable gift annuities to provide an income to themselves and their spouses.
Whatever the vehicles our donors use, they all want to help us in our mission of eliminating hunger in America and for that we are grateful.
Are there financial benefits to Legacy Gifts?
Just as a person is entitled to a charitable tax deduction on their income taxes if they make an outright gift to Feeding America, there are a number of financial benefits to making a Legacy Gift.
- If you include Feeding America in your will, you may exclude some of your estate from estate or inheritance taxes.
- You can turn highly appreciated securities which are not paying you a dividend into a charitable remainder trust which will pay you and your spouse or partner an income for life and avoid paying the capital gain taxes on the appreciation.
- If you have a life insurance policy which you no longer need, you can transfer that policy to Feeding America and receive a charitable tax deduction.
Feeding America provides information on legacy giving as a guide to help our donors choose the approach that works best for them. Please consider speaking with your legal, tax or financial advisor before making any significant financial commitment.
The information provided here is for illustrative purposes only and is not intended to be considered investment, legal, accounting, tax or other professional advice.
The experienced staff at Feeding America is here to help you find the best way for you to turn your commitment of helping fight hunger in America into action. Please consider this site as a resource to help you meet your philanthropic goals.
Questions about legacy giving and/or planned giving? Please contact us.
The van Hengel Society
The van Hengel Society honors individuals who make legacy gifts to benefit Feeding America. The Society brings together supporters who seek to establish a strong foundation for a hunger-free America.
John van Hengel changed the way the world approaches hunger when he started the world's first food bank in Phoenix, Arizona. In 1979, John helped to establish Feeding America (then called Second Harvest) laying the foundation for an organization that now feeds more than 37 million people every year.
Members of the van Hengel Society receive a certificate of membership, special reports about the latest initiatives of Feeding America and acknowledgement in our annual reports.
Interested in joining the van Hengel Society? Please contact us.