The passage of the PATH Act reinstates and makes permanent IRA charitable donations to benefit donors and all charitable organizations!
There are definite tax advantages to giving appreciated securities when you’ve owned them for more than one year. In most cases, the fair market value of the stocks, bonds and mutual fund shares will be allowable as a charitable deduction. The San Francisco-Marin Food Bank joins our philanthropic community in celebrating the passage of permanent IRA charitable rollover provisions. If you are interested in making a charitable gift from your IRA this year or in the future, please consider supporting the Food Bank with your gift. Your generosity makes all the difference in our efforts to provide food for all.
A gift of appreciated securities provides significant benefits, including an immediate charitable deduction for the full market value of the stock and avoidance of capital gains taxes that would normally be due upon sale. (Consult your tax advisor regarding limitations on deductions for gifts of securities held for less than one year.)
Here’s how it works:
Individuals who are 70 1/2 years or older.
What accounts can I transfer from?
Your gift must come directly to us from your IRA either Roth or traditional.
How much can I transfer?
Any amount up to $100,000 per year. This amount will count toward your required minimum distribution; however, it will not be treated as taxable income to you.
How do I make an IRA Charitable Rollover?
Contact your IRA provider or use your IRA checkbook to make your gift. Please make sure to notify us to ensure accurate processing, as some IRA providers do not send your name or other critical information. Click here for a letter of authorization to fill out and send to your IRA provider (if you don’t have one yet).
If you are interested in making a gift to the Food Bank, gifts may be sent to:
Legal Name: San Francisco Food Bank
Address: 900 Pennsylvania Avenue, San Francisco, CA 94107
Federal Tax ID Number: 94-3041517
1. Contact your broker or mutual fund administrator to assist you in making a donation. Provide the following information:
Bank: UnionBanc Investment Services*
Account Name: San Francisco Food Bank
Account Number: 0BP050873
DTC Number: 0226
UnionBanc representative: Brian Batt
Contact number: (415) 705-7186 (phone) or (415) 705-7151 (fax).
2. Please let us know about your donation so we can send your tax receipt letter.
Letter of Intent
If you choose to include the Food Bank in your estate plans, please complete our non-binding Letter of Intent. It helps us understand your goals and use your gift for greatest impact.