Gifts of Beneficiary Designations

Mediaon March 20th, 2013Comments Off on Gifts of Beneficiary Designations

A beneficiary designation is a simple way to make a legacy gift to the Freestore Foodbank. When you complete your beneficiary designation form, just name the Freestore Foodbank as a full or partial beneficiary and provide our tax identification number. These gifts bypass probate and go directly to all beneficiaries. Our full, legal name is “Freestore-Foodbank, Inc.” and our federal taxpayer identification number is: 23-7122205.


Here are some common designation options:

Retirement plans [e.g., traditional IRA, Keogh, 401(k)]: Including the Freestore Foodbank as a beneficiary enables you to avoid substantial income taxes that would have been due if a retirement plan were left to non-spousal heirs. It is strongly advised that you name the Freestore Foodbank as a beneficiary of a retirement plan through your designation form and not through your will, which may jeopardize tax benefits.

Insurance policies: There are a number of ways you can name the Freestore Foodbank as a beneficiary of an insurance policy, whether through your employer or a separate policy that you hold. Such a gift may provide you with current and future tax benefits.

Savings accounts: Designating the Freestore Foodbank as a beneficiary of a savings account is simple and allows full use of savings during your life.

For more information about beneficiary designations, please contact us:

Mindy Hammer Director of Strategic Gifts & Donor Relations (513) 482-7099 email:mhammer@freestorefoodbank.org

 

Endowment and Memorial Gifts

You can ensure that the impact you’re making today continues into the future by designating your planned gift to the Freestore Foodbank Foundation Endowment Fund. The purpose of the Endowment Fund is to assure that the services of the Freestore Foodbank are able to continue long into the future as well as provide both general and restricted supplemental income for the Freestore Foodbank.
You can also pay lasting tribute to loved ones through gifts made in their names to the Freestore Foodbank Foundation Endowment Fund.

Cash, stock, mutual fund shares, life insurance, real estate or other property may be used to fund endowment gifts.

Please consider making a gift in your estate plans that will endow your annual gift to the Freestore Foodbank so that the impact you’re making today can live on long into the future .

For more information about the Freestore Foodbank Foundation Endowment Fund, please contact us:

Donor Inquiries
Learn More About Our Endowment Learn More About Making A Gift In Your Will Learn More About Creating A Charitable Gift Annuity Learn more about some of our Tomorrow’s Harvest Society Members