Cash Gifts
Gifts of cash, made by check or online, are the most popular form of charitable giving. Cash gifts are attractive because they are simple to make, immediately effective, and easily directed to the greatest needs. Cash contributions may be deducted up to fifty percent (50%) of the donor’s adjusted gross income. Should the gift total exceed this amount for one year, the remaining deduction may be used in succeeding tax years for up to five years.
In addition to checks, the use of a credit card or direct deposit arrangement allows the donor to make a gift with a simple phone call or to make a significant gift through monthly installments. In every instance, meeting the donor’s needs and wishes is our first priority.
Matching Gifts
Many companies will match the contributions made by their employees, thereby doubling or even tripling the gifts made to their charity of choice. Ask your company about its policies and procedures regarding matching gifts.
Leadership Giving
Annual gifts of $1,000 or more from individuals, corporations, foundations, and organizations significantly underwrite the programs and services we provide. We gratefully acknowledge their generous giving in the following ways:
President’s Council Patron $1,000 or more annually
President’s Council Benefactor $2,500 or more annually
President’s Council Trustee $5,000 or more annually
Chairman’s Circle $10,000 or more annually
Bountiful Harvest Giving Circle
The Bountiful Harvest Giving Circle is the Capital Area Food Bank’s highest level of recognition. It includes those who have made 5-year pledges, and gifts that significantly underwrite both annual food distribution and special initiatives directed at those individuals most at risk in our community.
FeedingHope: $1,000 per year for 5 years
Nourishing Change: $10,000 per year for 5 years
Creating Sustainability: $25,000 per year for 5 years
Endowments and Gift Initiatives
The Capital Area Food Bank seeks gifts to endow its ongoing food distribution activities, as well as special initiatives to provide nutrition education and other services to those most at risk. We invite donors to meet with us to establish an endowment and review our greatest needs.
Gift Planning Ideas That Help You and Those Who Care
When you make a planned gift to the Capital Area Food Bank, you make a difference in the lives of working families, children, and seniors struggling to get by. In addition, you may receive a number of financial benefits, including significant tax reduction, and the chance for your contribution to go further.
As an aid to our donors, this resource briefly outlines the most popular types of charitable gifts and explains the charitable income tax benefits. We welcome the opportunity to discuss these ideas with you.
Friends of the Food Bank
Friends of the Food Bank is a donor service that allows you to pre-authorize your gift to the Capital Area Food Bank on a monthly basis. You can enjoy the convenience of having your monthly donation deducted from your checking account or charged to your Visa, MasterCard, Discover or American Express. No check writing. No stamps.
Q: How does it work?
A: Simply fill out the authorization pledge form. Tell us how much you want to pledge per month, and we will deduct it from your checking account or charge your credit card. Charges take place on the 15th of each month (next business day for weekends and holidays). Then send the form to:
Capital Area Food Bank
Attn: Development Dept.
645 Taylor Street, NE
Washington, DC 20017
Q: What if I change my mind?
A: You can increase, decrease or cancel your pledge at any time. Simply write the Food Bank or call 202-526-5344 and ask for Development.
Q: What record do I have of my monthly pledge?
A: Your monthly statement will show the amount charged to the Capital Area Food Bank. We will also provide you with a year-end statement showing your contributions for the year.
Q: How does the Friends of the Food Bank Program help the Capital Area Food Bank?
A: More of your gift goes toward food and programs for the hungry in our community since you are saving us time and money by eliminating gift solicitation appeals and other administrative costs. You provide a reliable and steady year-round stream of resources to help us fund educational programs and provide over 1,900,000 meals each month.
To join the Friends of the Food Bank program simply print this pledge form, fill it out and send it to:
Attn: Development Dept.
Capital Area Food Bank
645 Taylor Street, NE
Washington, DC 20017
Giving Appreciated Assets
Gifts of assets that have gone up in value since their purchase can be particularly beneficial to the donor. Consider that:
- Sales of stocks, bonds, mutual funds, and real property that have appreciated in value generate a taxable capital gain.
- Gifts of appreciated assets to the Capital Area Food Bank are deductible at their full fair market value if they have been held longer than twelve months.
- The full fair market value of these assets can be deducted up to thirty percent (30%) of the donor’s adjusted gross income.
- Excess deductions can be carried forward into as many as five additional tax years.
How to Make a Gift of Stock or Bonds
1. Contact your Investment Executive about your intent to donate. He or she can help you determine which stocks in your portfolio are the best candidates for donations.
2. Let your Investment Executive know that you would like to donate stock to:
Capital Area Food Bank
645 Taylor Street, NE
Washington, DC 20017-2063
Contact: Christel Hair
Chief Development Officer
(202) 526-5344 ext. 238
Tax ID #: 52-1167581
3. The gift should be delivered to:
Charles Schwab
Attn: Bob Armstrong
1650 Tyson’s Blvd., Suite 150
McLean, VA 22102
(703) 761-1569 or (800) 435-9050
Fax: (703) 761-1573
DTC#: 0164 Code 40
Account #: 9148-2489
Example: Frank Pender inherited a tract of land from his mother in 1980 that has a cost-basis of $25,000. Because of recent development in the area, the land has an appraised fair market value of $300,000. Mr. Pender makes a gift of the land to establish a memorial endowment in his family’s name.
As a result, the Capital Area Food Bank has the benefit of a $300,000 gift. Mr. Pender has the benefit of a $300,000 income tax deduction, which may be used up to 30% of his adjusted gross income in the year of the gift and, if needed, carried forward into the next five years. Most importantly, Mr. Pender has contributed to the fight against hunger.
Gifts of Securities
As noted above, giving appreciated stocks or bonds allow the donor to make a significantly greater gift than the original cost of the assets. With certain limitations, the donor may deduct the full fair market value of long-term appreciated securities that have increased in value. The gift of appreciated assets usually avoids the tax on the gain.
Gifts of securities are deductible up to thirty percent (30%) of the donor’s adjusted gross income with a five-year carryover. The donor may elect to qualify for a fifty percent (50%) adjusted gross income ceiling by reducing the value of the gift by the full amount of its appreciation, deducting only what was originally paid for the asset.
Bequests
One of the easiest and least expensive ways to assist the Capital Area Food Bank is to include a bequest provision in your will or revocable trust. Since it is simple to update or revise your will, bequests allow you the most flexibility and security should your circumstances or plans change.
Types of bequests:
- Outright funded with specified assets such as cash, securities, real estate, or personal property
- Residual provides a share of the remainder of your estate after your heirs have been provided for
- Contingent distributes property only if you outlive your heirs
- Testamentary Trusts provides one or more heirs with income for life, after which the assets are transferred to the Capital Area Food Bank
You can provide a bequest for the Food Bank by revising your will, adding a codicil to your existing will, or including the Food Bank in a revocable trust. There are several ways to make distributions in your will:
- Percentage of Estate: Allows for flexibility and changes in estate assets over time – “I give, devise, and bequeath to the Capital Area Food Bank ____% of my estate.”
- Specific Dollar Amount: Helps to meet identified endowment or gift levels – “I give, devise, and bequeath to the Capital Area Food Bank the amount of $______.”
- Specific Property: Identifies specific property or items you wish to give – “I give, devise, and bequeath to the Capital Area Food Bank the following property ________.” (be sure to identify locations)
- Residue of Estate: Whatever is left after other bequests have been granted – “All the residue of my estate, including real and personal property, I give, devise, and bequeath to the Capital Area Food Bank.”
These forms are samples only, not intended for actual use in your will. Consult your attorney when preparing any legal document.
Giving through the United Way or Combined Federal Campaign (CFC)
It is easy to donate to the Capital Area Food Bank through your United Way or CFC giving. Simply select United Way #8052 or CFC #30794.
How to Contact Us
The Capital Area Food Bank is recognized as a 501(c)(3) organization, qualified to accept, administer, and disburse charitable gifts. Overseen by a Board of Directors, the Capital Area Food Bank administers all gifts in a business-like manner in accordance with the donor’s wishes.
If you would like more information, please call or write to:
Christel Hair
Chief Development Officer
Capital Area Food Bank
645 Taylor Street NE Washington, D.C. 20017
(202) 526-5344 or hairc@capitalareafoodbank.org
We are always glad to hear from you.
This information is not intended as specific legal advice. Consult your attorney when considering any legal matter. State laws that govern wills and contracts vary and are subject to change.