Your gift to Food Bank in your will or revocable trust enables you to support our mission and to make a difference in the lives of our future clients. A bequest:
Your bequest to support our mission needs to be considered thoughtfully. Many good gift planning techniques are available, and you can choose the type of gift which best suits your needs.
For example, your bequest can be a stated dollar amount, or you can bequeath specific property to Food Bank. Some of our friends prefer to give a certain percentage of the remainder of their estate: the amount which remains after paying all debts, costs, and other prior legacies. You can visit our Sample Gift Language to get started.
Whichever form you prefer, you can direct that your bequest be used for our greatest needs or for a specific purpose you designate. We will be happy to work with you in planning a gift which will be satisfying and effective in carrying out your wishes for our mission.
Please click here to let us know if you have already included Food Bank For New York City in your estate plan or plan to do so.
Frequently Asked Questions & Other Helpful Information
What is a planned gift?
There are many ways to support Food Bank For New York City. Some gifts help us and the people we serve, while at the same time benefiting you and your other beneficiaries. Such giving techniques are called “planned gifts” because with thoughtful planning you create win-win solutions for you and Food Bank.
Benefits of Planned Giving
- Your assets remain in your control during your lifetime.
- You can modify your gift to address changing circumstances.
- You can direct your gift to a particular purpose, but be sure to check with us that your gift can be used as intended.
- You will not have an upper limit on the estate tax deduction for your charitable bequests under current tax law.
Is this gift right for you?
A bequest from your will or trust is a good choice for you if:
- You want to insure Food Bank’s future viability.
- You find long term planning more important to you than an immediate income tax deduction.
- You want the flexibility of a gift commitment which doesn’t affect your current cash flow.
Will your gift be restricted?
You may designate gifts to Food Bank under a will for unrestricted use, used to support a particular program, or added to our endowment.
In balancing your wish to benefit a special purpose with our ever-changing financial needs, advisors recommend that restrictions be described as broadly as possible, avoiding detailed limitations. The more limited you restrict your bequest, the more important it is to add a provision like the following:
In the event that such use should prove to be undesirable or impracticable for any reason their governing body may determine, in their sole discretion, they shall then provide for alternate uses of the fund consistent with the spirit of the gift.
Please let us help you with your sample gift language to Food Bank. We will assist you or your attorney with bequest language that works best for you and us, and we can also advise you regarding your interest in benefiting specific aspects of our work.
The 25 Estate Documents You Need to Put in One Place
It’s never too early to document your estate and to memorialize your wishes because a disorganized estate can mean chaos for your family and trustees.That’s why we’ve included our convenient information flier, The 25 Estate Documents You Need to put in One Place. As the title implies, it’s a complete list of the precise documents you need to get together to ensure noting interferes with your legacies. If you have any questions about this list or the documents it mentions, please contact us.
Important Related Documents