While we always accept gifts of food and funds throughout the year, there are some unique ways you can donate to the Food Bank that will help support our mission. Read on to learn more about how you can invest in the Baton Rouge community to help those in need. For more information, contact us at (225) 359-9940. As always, please consult your personal tax professional before making gifts such as these.
Gift of Cash: You can deduct cash gifts up to 50 percent of adjusted gross income. On a $10,000 cash gift in a 28 percent tax bracket, you save $2,800 in taxes.
Appreciated Stock: Appreciated stock makes an excellent gift. You avoid all capital gain taxes, will receive a tax deduction, and can deduct it up to 30 percent of your adjusted gross income.
Bonds, Mutual Funds: Similar to cash in their tax treatment, these make excellent gifts. State, Municipal, and Government bonds are welcome gifts.
Bequest Through Will: One of the simplest ways is to give of your estate. You can make a gift bequest, after others have been provided for, of a dollar amount, specific property, a percentage of the estate, or what is left (remainder) to the organization.
Gift of Life Insurance: A simple way to make a significant future gift is to name the organization beneficiary to receive all, or a portion of the proceeds of an existing life insurance policy. You will receive a tax deduction for the cash surrender value, thus reducing your tax liability in the year of the gift.Retirement Accounts: Retirement Account Funds (IRA’s or company plans) beyond the comfortable support of yourself or loved ones may be given (like life insurance proceeds) to the organization by proper beneficiary designation.