Make a Gift in 3 Easy Steps
Not everyone wants to commit to making a gift in their wills or estates. Some prefer the increased flexibility that a beneficiary designation provides by using:
- IRAs and retirement plans
- Life insurance policies
- Commercial annuities
It only takes three simple steps to make this type of gift. Here's how to name Northern Illinois Food Bank as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you chose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, bank or financial institution.
See How It Works
An Example of How It Works
Robert and Carol* treasure the financial help they've been able to give their children and Northern Illinois Food Bank over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left Northern Illinois Food Bank a $75,000 IRA to be transferred following their lifetime. Because Northern Illinois Food Bank is tax-exempt, all $75,000 will help support our mission.
If Robert and Carol had left the IRA to their children, approximately $18,000** would have gone to pay federal income taxes—leaving only $57,000 for their family's use. Robert and Carol are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.
*These examples are for illustrative purposes only, to maintain the privacy of our donors.
**Based on an assumption of a 24 percent marginal income tax bracket.
- Contact Gina Gramarosso at 630-443-6910, ext. 130 or firstname.lastname@example.org for additional information on beneficiary designations and how they can help support Northern Illinois Food Bank with our mission.
- Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
- If you name Northern Illinois Food Bank in your plans, please use our legal name and federal tax ID.
Legal Name: Northern Illinois Food Bank
Address: 273 Dearborn Court, Geneva, IL 60134
Federal Tax ID Number: 36-3203648
Download our FREE guide Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy.
Gifts That Pay
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.
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