With tax season upon us, it's the perfect time to explore how philanthropic giving can benefit both your community and your finances. We’ll help ensure that your contributions become a seamless part of your journey towards making a difference!
Did you give financially to 412 Food Rescue in 2024?
Email JenIvy@412foodrescue.org if you need your giving documents to submit with your 2024 taxes!
At 412 Food Rescue, we’re dedicated to addressing hunger and food waste here in Pittsburgh, and we rely on the generosity of supporters like you to fuel our mission. If you’re looking for ways to contribute that also provide potential tax benefits, we have a variety of tax-smart giving options available. Whether you’re interested in donating through your workplace, giving appreciated stocks, or leaving a legacy gift, there are several ways you can help us make a bigger impact while maximizing your charitable contribution.
In this guide, we’ll explore various tax-smart giving options that allow you to maximize the impact of your gift while providing benefits that align with your personal financial goals. These options not only support 412 Food Rescue’s mission but can also help reduce your taxable income and provide tax advantages. Let’s dive into these opportunities together, ensuring that your contributions make a meaningful difference today and in the future.
Workplace Giving
Many workplaces offer easy solutions for employees to contribute to nonprofits that they wish to support financially. Whether through the annual United Way campaign or a system managed by the company, these donations often allow employees to have pre-taxable income deducted from their paycheck and designated to a charity of their choice.
Ask your employer how you can support 412 Food Rescue in this way or, if your workplace would like to direct donations to 412 Food Rescue, please contact advancement@412foodrescue.org.
Appreciated Stock/Mutual Fund Donations
You can donate a gift of appreciated stocks or mutual funds to support 412 Food Rescue. Your donation may still be eligible for a tax deduction, and it may also allow you to avoid or reduce capital gains taxes. For more information on potential tax advantages, please consult with your financial advisor.
Before transferring stock, please contact advancement@412foodrescue.org to provide information about your gift, including the stock name and number of shares to be transferred. This information is necessary for us to provide you with the appropriate receipt and acknowledgment language for your tax purposes.
Stock Transmittal Information:
PNCI Account #: 005 284 820
DTC#: 0226
Broker/Dealer: PNC Investments/National Financial Services
Phone: 800-622-7086
Give from Your Donor-Advised Funds
You’ve set up a donor-advised fund to manage your charitable giving—and now you can easily provide a gift from your fund to benefit 412 Food Rescue! You can make a one-time or recurring gift from your DAF. As you received a charitable deduction at the time you set up the DAF, your distribution will not be eligible for a tax deduction.
Check should be made payable to 412 Food Rescue, and mailed to 6140 Station Street, Pittsburgh PA, 15206. Be sure to ask your advisor to include your contact information when transmitting the gift so we can appropriately acknowledge the gift. Or, you can let us know yourself – contact advancement@412foodrescue.org.
Retirement Account Distributions
Qualified charitable distributions from your Individual Retirement Account (IRA) are current gifts with an immediate impact. Often referred to as “IRA Charitable Rollover Gifts,” these gifts are distributions paid directly from an IRA to a nonprofit.
If you are 70½ or older, you can transfer as much as $100,000 per year from an IRA directly to 412 Food Rescue—without counting this transfer as taxable income. If you were 70½ before January 1, 2020, the qualified charitable distribution counts toward your Required Minimum Distribution (RMD). If you are 70½ after January 1, 2020, you do not have a required minimum distribution until age 72. Note, that if RMD’s are not met, the IRA owner will face a tax penalty. Therefore donating the RMD is a great way to mitigate that tax penalty while also benefiting 412 Food Rescue.
Another way to donate IRA assets is by naming 412 Food Rescue as a designated beneficiary of all or a percentage of your IRA or company retirement plan. Your IRA custodian can assist you with making a gift of your RMD. Checks may be made payable to 412 Food Rescue and mailed to 6140 Station Street, Pittsburgh, PA 15206.
Legacy Gifts in Your Will
In a simple document, you can easily create a lasting gift to 412 Food Rescue by naming our organization in your will. This type of gift, called a bequest, helps ensure that we can continue to feed the food-insecure and keep perfectly good food out of landfills for many years to come.
Bequests are a wonderful way to ensure your legacy will endure long after you are gone and these gifts can be augmented at any time during your life. There are several ways a bequest can be funded: you can specify a dollar amount to 412 Food Rescue, a percentage of your estate, or the remainder of your estate after other provisions are made. You may also provide a gift of a physical asset such as a home or vehicle.
For sample language to use when drafting your bequest, visit the 412 Food Rescue website or contact us at advancement@412foodrescue.org. If you have already named 412 Food Rescue in your will or living trust, please let us know! Informing us of your plan ensures your gift will be used according to your wishes and allows us to plan for the future.
You may remain anonymous if you wish, and we will respect that your name is to be kept in strict confidence. If you choose to allow your name, we will be honored to count you as a member of our Legacy Society, along with others who have chosen this generous manner of giving. By recognizing the Legacy Society in our communications, written materials and on our website, you will be providing a wonderful incentive for other donors to do the same.
If you’re looking to make a difference in our community, we encourage you to consider supporting 412 Food Rescue through one of the tax-smart giving options outlined above. Your contribution—whether it’s a one-time donation or part of your long-term giving strategy—helps us expand our programs and reach more individuals in need.
Together, we can make a real difference in the fight against hunger and food waste. Reach out to us today to learn more about how you can get involved and support our mission!
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