In addition to cash donations, MFB accepts a variety of financial gifts to support our mission. Planned giving is a broad category of charitable contributions given at the time of the donor's passing. Upon dying, assets can only pass three places: friends and family, taxes, and nonprofit organizations. A charitable gift from your estate is often a favored method of giving that enables you to achieve your financial goals and benefit Midwest Food Bank. Giving through your will or trust allows you to support MFB and create a lasting legacy that endures beyond your lifetime.
Planned Giving, also known as Legacy Giving, is a way to make a generous, lasting contribution to a cause you support. Aside from the tax benefits, a gift from your estate can have a lasting impact. Wise and thoughtful planning can minimize or eliminate estate tax liability and enable you to redirect tax dollars for charitable impact.
The most common planned gift is a charitable bequest. A donor can make a Charitable Bequest via a trust or will. Contributions may include cash, real estate, life insurance, equity, or personal property. You can establish charitable bequest values in multiple ways:
- Specific Amount. An exact set of funds allocated to an organization.
- Percentage. A set percentage of the donor's total estate.
- Remainder. Any money left after all other bequests are paid out.
You may designate a Specific Midwest Food Bank location by noting this on the gift.
Q: Who can have an estate plan?
A: Anyone with money or assets such as vehicles, real estate, securities, or other valuable items. Estate plans aren’t only for households with great wealth.
Q: Why have an estate plan?
A: There are many goals in an estate plan: preserving family wealth, providing for a surviving spouse and children, funding children’s or grandchildren’s education, or leaving their legacy behind to a charitable cause.
Q: Can my estate plan create a legacy?
A: Absolutely! This is Planned Giving. Giving to a charitable cause through your estate plan is a wonderful legacy. Learn more about how to include Midwest Food Bank in your Estate.