Legacy Giving Programs: How Planned Giving Creates a Lasting Impact for Nonprofits and Food Banks

Hunger in Southeastern Virginia and on the Eastern Shore shows up in quiet, personal ways. A parent stretching groceries until payday, a senior choosing between food and medication, a child relying on school meals to get through the week. Day-to-day giving, or as we call it, recurring giving here at the Foodbank, helps meet those needs right now. Legacy giving, on the other hand, focuses on provisions for years to come and ensures that help continues long into the future.

By including the Foodbank of Southeastern Virginia and the Eastern Shore in your estate plans, you make a statement about what matters to you. You ensure that your care for neighbors facing hunger will continue, even after your lifetime.

What Are Legacy Giving Programs?

A legacy gift, also often called a planned gift, is a way to support the causes you care about through your estate plans. These gifts are arranged during your lifetime but take effect later, allowing you to provide for loved ones first while also supporting your community.

For many donors, a legacy gift is as simple as including the Foodbank in a will or naming it as a beneficiary on a retirement account. Others choose options that provide income during life while leaving a meaningful gift for the future. However, it’s structured, a legacy gift reflects your values and your hope for the community you leave behind.

Legacy Giving vs Planned Giving: Two Sides of the Same Idea

You may hear the terms legacy giving and planned giving used interchangeably. Both describe thoughtful ways of making a future gift.

Planned giving refers to the practical tools: wills, beneficiary designations, and trusts.

Legacy giving reflects the reason behind the decision: the desire to leave a lasting impact.

At the Foodbank, we focus on both, making the process simple while honoring the purpose behind every gift.

Why Legacy Giving Matters for Food Banks

Food banks operate on tight budgets and with fluctuating demand. Annual giving and grants help buy fresh produce, keep trucks on the road, and pay staff. Legacy giving programs add long-term security on top of that.

A single planned gift can:

• Seed or grow an endowment that generates annual income.
• Fund big-ticket needs, such as refrigerated trucks or warehouse improvements.
• Provide reserves so the Foodbank can respond quickly during disasters or economic downturns.

Legacy gifts help ensure your support has lasting impact. They don’t replace the gifts you make today, they strengthen them, providing stability when needs grow or circumstances change.

You also don’t need to be wealthy. Many legacy gifts are modest percentages of an estate or the remainder of a retirement account. Over time, a series of thoughtful gifts from ordinary neighbors can have extraordinary impact.

Common Types of Planned Gifts

You do not have to be a tax expert to understand the basic tools used in planned giving as it relates to nonprofits. Most legacy gifts fall into a few straightforward categories.

Bequests in a Will or Living Trust

The most common approach is a bequest. You include the Foodbank in your will or living trust for a specific dollar amount, a percentage of your estate, or whatever remains after other gifts are made. It costs nothing during your lifetime and can be revised if your situation changes.

Beneficiary Designations

You can also name a nonprofit as a beneficiary on life insurance policies, retirement accounts like IRAs and 401(k)s, or bank and investment accounts set up as Payable-on-Death or Transfer-on-Death. Often, this is as simple as updating a form with your plan administrator.

Charitable Gift Annuities and Trusts

For some donors, tools like charitable gift annuities or charitable remainder trusts make sense. They can provide income during life and direct what is left to the Foodbank later. These options are more complex and should be set up with help from a financial advisor or attorney.

Legacy giving programs do not require every donor to use advanced tools. They work best when they make standard options easy to understand and act on.

Our Commitment to Your Legacy

When you choose to include the Foodbank in your plans, we recognize that decision is deeply personal. We are committed to honoring your intentions, stewarding your gift responsibly, and using it to meet the most pressing needs of our community.

Many supporters choose to let us know they’ve made a legacy gift so we can thank them, keep them informed about our work, and ensure their wishes are clearly understood. Recognition is always optional and handled with care and respect.

The Ripple Effect of a Leave a Legacy Donation

A legacy gift often funds work that stretches far past a single season. One gift might help purchase a refrigerated truck. That truck can rescue surplus produce from local farms and deliver it to rural communities for years. Another gift might help upgrade warehouse space, allowing the Foodbank to store more fresh food and serve more partner pantries.

Each legacy donation becomes part of an ongoing response to hunger. Legacy giving programs turn a single decision into years of reliable support for neighbors facing empty cupboards.

FAQs

Do I need to be wealthy to participate in legacy giving programs?

No. Many legacy giving programs are built around simple bequests or beneficiary designations that may account for only a small percentage of an estate. Even a modest share—such as 1–5%—can provide meaningful support to a food bank without reducing your ability to care for family members.

Can I change my legacy gift later?

Yes. Most common planned gifts, like will provisions and beneficiary designations, are revocable. You can adjust or remove them if your financial situation, family needs, or charitable priorities change over time.

What kinds of assets can I use to leave a legacy donation?

You can use cash, securities, retirement accounts, life insurance policies, or real estate. Many donors find it efficient to name a nonprofit as a beneficiary of retirement assets and leave other property to individuals, but the right approach depends on your overall plan.

How You Can Support the Foodbank Through Legacy Giving

If you are considering a legacy gift, we encourage you to explore options that feel right for you and your family. A conversation with your financial advisor or estate planning attorney can help you determine the best approach.

If you have already included the Foodbank in your plans, we would be honored to know. Sharing that information helps us plan for the future and allows us to express our gratitude.

If you are considering this kind of gift:

• Talk with your financial advisor or estate planning attorney about including the Foodbank in your will or as a beneficiary on an account.
• Let the Foodbank know if you have already made that decision. That helps with long-term planning and allows them to thank you appropriately.
• Visit the Foodbank’s “Give Help” page to explore giving options, including legacy giving and monthly support.

Thoughtful planned giving helps ensure that neighbors in Southeastern Virginia and the Eastern Shore will have a place to turn when they need food for years to come. Thank you for learning more about legacy giving and for considering the Foodbank of Southeastern Virginia and the Eastern Shore as part of your lasting legacy.