Bequests and Wills
We are truly grateful to the foresighted donors who include charitable bequests for the Food Bank in their will or trust. Recognizing that this is the last philanthropic act of an individual who believes deeply in the hunger relief cause, we are committed to stewarding your valuable gift in the manner you intend.
If you want your bequest to be used for a specific program or purpose, it is wise to discuss your goals and our needs when you write or update your will. Contact Karen Ratzlaff at kratzlaff@brafb.org or (540) 213-8404 to have a confidential conversation.
An unrestricted bequest is of special value because of the freedom it gives the Board of Directors to use your gift wherever and however most needed by the Food Bank at the time. If your bequest is unrestricted, here’s how our bequest policy works today:
- Gifts under $25,000 will be applied to the Food Bank’s current needs and used immediately as we work to feed hungry neighbors
- Ten percent of gifts of $25,000 or more will be applied to the Food Bank’s current needs and used immediately as we work to feed hungry neighbors. Ninety percent of the total will be invested in the Food Bank’s quasi-endowment. Each year, the Board of Directors allocates some endowment income for a specific purpose in the Food Bank’s operating budget, especially a need that will be broad in impact and that will benefit clients across our service area (an example may be the purchase of food). Our long-term goal is to balance our need for income to support current operations, with the potential for growth in the endowment.
Here are some common bequest options you can use:
Specific bequest: Determine a percentage of your total assets or a specific dollar amount or asset that you wish to leave to the Blue Ridge Area Food Bank
Residual bequest: After you have provided for your loved ones, name the “Blue Ridge Area Food Bank” to receive a percentage or all of your residuary estate
Contingent bequest: Blue Ridge Area Food Bank receives a bequest only in the event of the death of other beneficiaries
Contact Karen Ratzlaff at kratzlaff@brafb.org or (540) 213-8404 to obtain a copy of the specific language you can use for one of these bequest options.
Join The Will to End Hunger Society and let us know if you include a bequest for the Food Bank in your will or trust. Download the Statement of Gift Intention Form and return it to us.