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Supporting the Los Angeles Regional Food Bank through IRA Donations: The Inspiring Story of Scott and Lisa Nelson

Supporting the Los Angeles Regional Food Bank through IRA Donations: The Inspiring Story of Scott and Lisa Nelson

Scott and Lisa Nelson are dedicated supporters of the Los Angeles Regional Food Bank and our partners, donating both their time and financial resources to fight hunger in Los Angeles County. Having volunteered with the Food Bank for years, they have seen firsthand the vital impact that access to nutritious food has on families in need. This connection to the mission has inspired them to take their support further by leveraging their IRA to make a difference in a tax-efficient way.

For individuals over 70½, using a Qualified Charitable Distribution (QCD) to donate from an IRA is a powerful tool for charitable giving, and for the Nelsons, it made perfect sense. “We knew that we needed to start taking required minimum distributions (RMDs) from our retirement accounts,” Lisa explains. “When we learned about the tax implications, we asked our CPA for options. That’s when we found out that by donating directly to the Food Bank from our IRA, we could avoid the tax and have the entire donation go toward fighting food insecurity.”

The couple has found that IRA donations are not only financially advantageous but also incredibly convenient. As Lisa describes, “What’s really great is you get on the computer, you put in the L.A. Regional Food Bank address, say you want to send $10,000 or $20,000, and it’s done. It’s really easy.” This simplicity, paired with the impact of their donations, has enabled them to support the Food Bank on an ongoing basis, ensuring that their contribution reaches families and individuals in need.

Scott and Lisa are passionate about the Food Bank’s unique capacity to support the community. Unlike some organizations, the Food Bank ensures that a high percentage of donations go directly to programs that provide food to the people of Los Angeles. This commitment to efficiency and impact aligns perfectly with the Nelsons’ values. “When we look for organizations, our focus is really on food insecurity,” Lisa says. “We like that the Food Bank has about 90% of its donations going toward programs, which is really impressive.”

For those considering an IRA donation, the Nelsons’ story serves as a reminder of the good that can come from financial planning and philanthropy. Their experience highlights that, beyond the tax benefits, giving through an IRA makes a real difference in the lives of those facing hunger. And, as the Nelsons emphasize, it’s not just about the financial support—it’s about engaging with the community and creating relationships with those in need. By supporting the Food Bank, donors like Scott and Lisa make it possible for families across Los Angeles County to put food on their tables.

The Nelsons’ commitment exemplifies the impact of combining hands-on service with financial contributions. Not only does it help alleviate hunger in the community, but it also enriches their own lives. “You know, everybody always talks about, ‘Oh, look at how good you guys are, you do so much,’” Lisa shares. “I say, you know what? We get so much more back than what we give.”

Their dedication underscores the importance of supporting the Food Bank’s mission. If you’re looking for a way to make a lasting impact, consider the benefits of donating through an IRA. This approach allows your generosity to extend further, feeding more people while maximizing the tax advantages for you and your family. To learn more about supporting the Food Bank through an IRA donation, visit LAFoodBank.org/give-from-your-IRA or contact Debra Beadle at dbeadle@lafoodbank.org.

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