Donate Funds

Planned Giving

Legacy Gifts

Planning your legacy is about ensuring a brighter future for your family while supporting your community long after you are gone.

Start here and learn about the different legacy gift options available at the Great Plains Food Bank. Whether you like to put your donation to work today or benefit your charity of choice tomorrow, the Great Plains Food Bank can help you identify a charitable plan that lets you provide for your family and support the community you care about.

FAST FACT: Have you made or intend to make a gift to support the Great Plains Food Bank through a legacy gift? – please complete the online reply form.

For many of our Great Plains Food Bank donors, legacy giving is a perfect way to express support for hunger relief in North Dakota and Clay County, Minnesota. Legacy gifts are mostly used as long-term mission impact resources. However, your generosity will lift our neighbors in need today, raise public awareness for tomorrow, while supporting long-term solutions for good. 

Legacy gifts often provide good financial benefits to the donor, including tax savings, cash payments, and supplemental support for family and friends – these and other benefits are available depending on a donor’s life circumstances and final wishes.

FAST FACT: Legal name: Great Plains Food Bank | 1720 3rd Avenue N. | Fargo, ND 58102 | TAX-ID: 47-2229589

Legacy Planning

A legacy gift is the result of a donor’s careful consideration of several important factors.

  • The purpose or intent of the gift (family values and philanthropic plans)
  • The types of family assets used to fund the gift
  • The gift’s timing
  • The gift’s impact on your family tax obligations
  • The impact of the gift on the donor’s family members.

The Great Plains Food Bank can work in collaboration with you and your family’s financial advisor to provide information on planned gift opportunities that work best for your family’s needs and your philanthropic wishes.

Endowment fund

You can pay lasting tribute (in memoriam) to loved ones through gifts made in their names to the Great Plains Food Bank Endowment Fund. Unrestricted gifts to our endowment fund will sustain our core programs and be listed in our annual report. Cash, stock, mutual fund shares, life insurance, real estate, or other property may be used for gifts to the Great Plains Food Bank’s endowment fund. 

North Dakota Charitable Tax Credit Program – Qualified Endowment
Individuals, families, and some businesses can make a qualified deferred gift to a qualified North Dakota nonprofit organization, like the Great Plains Food Bank.

To qualify, the contribution(s) to the qualified endowment fund must total a minimum of $5,000 for the tax year. The state tax credit you receive is 40% of the charitable gift allowed by the IRS up to a maximum of $10,000 per year per taxpayer or $20,000 per year per couple filing jointly. For qualifying businesses, they can receive a state tax credit of 40% up to a total of $10,000.

Bequests

FAST FACT: Beneficiary gifts bypass probate court and supersede the Last Will & Testament directives, and go directly to the named beneficiary.

A bequest documented in a Last Will & Testament is often the most common and realistic way for donors to make a significant contribution to the Great Plains Food Bank. When creating your Last Will & Testament, you can make a real impact on hunger in North Dakota by naming the Great Plains Food Bank as a beneficiary with a variety of bequest types. 

Wills and revocable living trusts are very important estate planning tools, allowing you to determine who will receive your property (personal & real) after your death. These two popular philanthropic vehicles also allow you to determine the amounts and proportions of your gift(s) under specific circumstances. Tax planning considerations also may affect the provisions of your will or living trust. 

Beneficiary Gifts

A beneficiary designation is the simplest way to make a legacy gift to the Great Plains Food Bank. Just name the Great Plains Food Bank as a full or partial beneficiary in one or more of the following giving options.

Retirement plans (401K, Roth IRA)
May enable you to avoid substantial income taxes and they can be set up anytime, even while you are working and still planning your retirement. The simplest way is to name the Great Plains Food Bank as the Primary Beneficiary. Consider using your IRS Required Minimum Distribution (RMDs) as a first-time gift towards ending hunger.

Insurance policies
There are several ways to name the Great Plains Food Bank as a beneficiary of an insurance policy. The simplest way is to list the Great Plains Food Bank as the Primary Beneficiary on your policy.

Bank and Credit Union accounts
Designating the Great Plains Food Bank as the Primary Beneficiary of bank accounts, including checking, savings, certificates of deposits and other accounts is the simplest way to transfer ownership at the time of death, but still allows you full use of the accounts during your life. 

FAST FACT: The Great Plains Food Bank uses a licensed broker from one of our business banking partners to help facilitate gifts of securities like stock and mutual fund shares.

Securities – Stocks and Mutual Funds
Designating the Great Plains Food Bank as the recipient of gifts of securities like stock and mutual fund shares enables you to realize tax benefits. Gifts of security can be especially appealing if you are holding shares that are appreciated significantly but yield a low dividend. If you own appreciated securities, like stocks or mutual funds held by you for more than one year, donating them to the Great Plains Food Bank may allow you to reduce or avoid more capital gains taxes and receive a federal income tax charitable deduction.

GIFT ANNUITY and TRUSTS

FAST FACT: You can fund a charitable gift annuity with an irrevocable donation of cash, publicly-traded securities, or other assets, such as real estate, art, or collectibles.

Charitable Gift Annuity
A CGA is a contract between the donor and the Great Plains Food Bank in which the donor makes a gift to the Great Plains Food Bank. In exchange, the Great Plains Food Bank assumes a legal obligation to provide the donor (primary income beneficiary) and up to one additional beneficiary with a fixed amount of monthly income that continues until the last beneficiary dies. When you set up a charitable gift annuity, you can choose to receive income payments for both beneficiaries at the same time, or you can structure it so that payments to the second beneficiary begin only after the death of the primary beneficiary. After the death of the second income beneficiary, the charity receives the remaining value of the annuity.

FAST FACT: A charitable remainder trust allows you to donate generously to the charities of your choice while providing a tax break for yourself and your heirs.

Charitable Remainder Trust
A CRT is an irrevocable trust used to enable donors to give money or property to the Great Plains Food Bank while continuing to receive income from the property for life or for some time up to 20 years. The donor, and/or other beneficiaries (family) receive distributions from the trust annually, and the Great Plains Food Bank (the remainder beneficiary) receives the assets remaining in the trust when the trust ends. The donor gets an immediate income tax deduction for the remainder interest, defers or avoids capital gains tax on the donated assets, and gets gift or estate tax deductions for the remainder interest.

Charitable Lead Trust
A CLT is essentially a charitable remainder trust in reverse. First, the charity receives an income stream (the income interest), then, at the end of the specified trust term, which can be for a term of years, for the lifetime of the donor, or the lifetimes of the donor and the donor’s spouse, any income and principal remaining in the CLT (the remainder interest) can either revert back to the donor or pass to other non-charitable beneficiaries (family) named in the trust.

DISCLAIMER: Please consider this site as a resource to help with planning your philanthropic goals. The information provided on this webpage is for illustrative and recommendation purposes only and should not be considered as legal advice on investment, accounting, or tax obligations. Please consult your wealth advisor or an attorney before making any final decisions.

PRIVACY POLICY

  1. What Information Do We Collect? When you visit our website you may provide us with two types of information: personal information you knowingly choose to disclose that is collected on an individual basis and website use information collected on an aggregate basis as you and others browse our website.
  2. Personal Information You Choose to Provide We may request that you voluntarily supply us with personal information, including your email address, postal address, home or work telephone number and other personal information for such purposes as correspondence, placing an order, requesting an estimate, or participating in online surveys. If you choose to correspond with us through email, we may retain the content of your email messages together with your email address and our responses. We provide the same protections for these electronic communications that we employ in the maintenance of information received by mail and telephone.
  3. Website Use Information Similar to other websites, our site may utilize a standard technology called “cookies” (see explanation below, “What Are Cookies?”) and web server logs to collect information about how our website is used. Information gathered through cookies and server logs may include the date and time of visits, the pages viewed, time spent at our website, and the sites visited just before and just after ours. This information is collected on an aggregate basis. None of this information is associated with you as an individual.
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  7. Notice of New Services and Changes Occasionally, we may use the information we collect to notify you about important changes to our website, new services and special offers we think you will find valuable. As a user of our website, you will be given the opportunity to notify us of your desire not to receive these offers by clicking on a response box when you receive such an offer or by sending us an email request.
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  9. How Do We Protect Your Information? Information Security — We utilize encryption/security software to safeguard the confidentiality of personal information we collect from unauthorized access or disclosure and accidental loss, alteration or destruction. Evaluation of Information Protection Practices — Periodically, our operations and business practices are reviewed for compliance with organization policies and procedures governing the security, confidentiality and quality of our information. Employee Access, Training and Expectations — Our organization values, ethical standards, policies and practices are committed to the protection of user information. In general, our business practices limit employee access to confidential information, and limit the use and disclosure of such information to authorized persons, processes and transactions.
  10. How Can You Access and Correct Your Information? You may request access to all your personally identifiable information that we collect online and maintain in our database by emailing us using the contact form provided to you within the site structure of our website.
  11. Do We Disclose Information to Outside Parties? We may provide aggregate information about our customers, sales, website traffic patterns and related website information to our affiliates or reputable third parties, but this information will not include personally identifying data, except as otherwise provided in this privacy policy.
  12. What About Legally Compelled Disclosure of Information? We may disclose information when legally compelled to do so, in other words, when we, in good faith, believe that the law requires it or for the protection of our legal rights.
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TERMS & CONDITIONS

DONATION REFUND POLICY

We are grateful for your donation and support of our organization. If you have made an error in making your donation or change your mind about contributing to our organization please contact us. Refunds are returned using the original method of payment. If you made your donation by credit card, your refund will be credited to that same credit card.

AUTOMATED RECURRING DONATION CANCELLATION

Ongoing support is important to enabling projects to continue their work, so we encourage donors to continue to contribute to projects over time. But if you must cancel your recurring donation, please notify us.