PLANNED GIVING
feeding the future
You can help ensure that South Plains Food Bank is able to provide access to meals for those in need for years to come with a planned gift.
Our mailing address is:
5605 MLK Blvd., Lubbock, TX 79404
Beneficiary Designations
Did you know that there are additional assets not covered in a standard will or trust? If you have an IRA, 401(k), life insurance policy, or any additional accounts, these are called “non-probate assets” and they need to be planned for separately.
IRA Charitable Rollover:
For those of you who are 70 1/2 or older and interested in making a gift directly to the Food Bank through your IRA account, you can transfer up to $100,000 annually without having to recognize the distribution as income. IRA charitable rollover should also be received mid-December for inclusion in year-end giving.
Cash Gifts
Cash gifts can be made directly to SPFB by mail, online, or as a recurring monthly gift; and can be made in honor or memory of a loved one.
Appreciated Securities
SPFB only accepts gifts of publicly traded stock. Stocks and bonds will be sold as soon as practical. A gift of appreciated stock or bonds will allow you the same tax savings as a cash gift but with the added benefit of eliminating capital gains taxes on the transfer.
Gifts of Stocks & Bonds
To make a gift of stock and bonds, please do so by electronic transfer. Contact Ranu Manik at 806-905-7565 for instructions on transferring from your brokerage or investment account to SPFB. Please initiate any stock gifts by December 15th, to ensure that they are processed for that year.
Real Estate
A gift of real estate can be made to the food bank without touching your bank account. Appreciated property, held longer than one year qualifies as a charitable deduction; and you avoid paying a capital gains tax.
The South Plains Food Bank accepts a variety of assets as gifts. We will be glad to work with your legal and tax advisors to help you reach your charitable goals now, and in the future. Gifts of cash appreciated securities, and real estate are accepted. SPFB reserves the right to refuse a gift if it is determined to be outside of the best interest of the organization. Planned gifts can be made directly to the South Plains Food Bank to be used to feed hungry families today.
