Gifts That Cost You Nothing Now
Gifts in a Will
A gift in your will is one of the easiest ways to create your legacy and offers the following benefits:
Costs you nothing now.
You can alter your gift or change your mind at any time and for any reason.
Your gift will create your legacy of sharing God’s love.
Four simple, “no-cost-now” ways to give in your will
Leaves a gift of a stated sum or percentage of money in your will or living trust. For example, you might decide to leave each of your grandchildren $10,000. It is considered to be ‘general’ because it doesn’t specify from where the money comes.
Example language to bequest a percentage of your estate:
“I give, devise and bequeath to Food For The Poor, Inc. (Tax ID #59-2174510), located in Coconut Creek, FL, _____ % of my estate to be used for its general support (or for the support of a specific fund or program).”
Example language to bequest a specific dollar amount:
“I give, devise and bequeath to Food For The Poor, Inc. (Tax ID #59-2174510), located in Coconut Creek, FL, the sum of __________ dollars (or assets) to be used for its general support (or for the support of a specific fund or program).”
Example language to bequest your remaining estate after other bequests have been fulfilled:
“All the rest, residue, and remainder of my estate, both real and personal, wherever located, I give, devise and bequeath to Food For The Poor, Inc.”
Leaves a specific dollar amount, percentage, fraction, or specific items (collections, art, books, jewelry, and so on).
Leaves a stated amount or share only if a spouse, family member or other heir/beneficiary does not live longer than you. In other words, your gift is contingent upon whether or not they survive after you.
You can mix these no-cost ways together. For example, you might consider leaving a specific percentage (such as 50%) of the residual to Food For The Poor contingent upon the survival of your spouse.
We invite you to contact us so we can chat about easy ways to make an impact at no current costs to you.
Gifts by Beneficiary Designation
It’s easy to put your bank accounts, retirement funds, savings bonds, and more to use in creating a world impacted by Food For The Poor — and it costs nothing now.
By naming Food For The Poor as a beneficiary of these assets, you carry out God’s work and impact lives for future generations. Your gift could impact a child, a family, a village and the world – the impact your gift makes through Food For The Poor becomes your personal legacy.
Potential benefits of gifts by beneficiary designation:
Reduce or eliminate taxes
Reduce or avoid probate fees
No cost to you now
Create your legacy with Food For The Poor.
To name Food For The Poor as a beneficiary of your retirement plan, contact your bank or insurance company to see whether a change of beneficiary form must be completed.
How to change a beneficiary designation:
Login to your account or request a Change of Beneficiary Form from your custodian (the business holding your money or assets).
Follow the links to change your beneficiary or fill out the form.
Be sure to spell the name of our organization properly: Food For The Poor
Include our tax identification number: 59-2174510
Save or submit your information online or return your Change of Beneficiary Form.
Types of Gifts
A gift of retirement funds
Since organizations, like Food For the Poor, are exempt from income taxes on gifts of appreciated assets, tax-favored retirement plans are an excellent tax-wise strategy for both lifetime and legacy gift options. You can simply name Food For The Poor as a beneficiary of your retirement plan to create your legacy of compassion.
A gift of funds remaining in your bank accounts, brokerage accounts or certificate of deposit (CD)
This is one of the easiest gifts to give and one of the most useful in accomplishing your philanthropic goals. The next time you visit your bank, you can name Food For The Poor (Tax ID: 59-2174510) as the beneficiary of a checking or savings bank account, a certificate of deposit (CD), or a brokerage account. When you do, you’ll take a powerful step toward impacting those served by Food For The Poor.
Donor-Advised Fund (DAF) residuals
What remains in a donor advised fund is governed by the contract you completed when you created your fund. When you name Food For The Poor as a “successor” of your account or a portion of your account value, more people will be helped with food, housing, healthcare, education, fresh water, emergency relief, micro-enterprise solutions and much more.
If you have bonds that have stopped earning interest and you plan to redeem them, you might owe income tax on the appreciation. That could result in your heirs receiving only a fraction of the value of the bonds in which you invested. Since Food For The Poor is a tax-exempt organization, naming us as a beneficiary means that 100% of your gift will go toward providing for those in need.