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Brochure
CASH GIFTS
These types of gifts are most
often made through a personal check or credit card. Cash gifts can also be
set up through an automated monthly schedule. Contact us to make a
donation or make one via our web site.
MARKETABLE
SECURITIES
Contributing appreciated securities, such as stocks,
bonds and mutual funds, allows the donor to avoid paying capital gains tax and
may also provide a deduction equal to the security's fair market value.
This strategy can be very effective for securities with a low cost basis and
holding period of greater than 12 months.
PLANNED GIFTS
Planned or deferred gifts are a popular
giving method for many people who want to support the Library Foundation, but
would like to retain a financial benefit for a period certain, a lifetime, or a
child's future. Making a planned gift can provide valuable tax benefits now,
while helping the Library in the future.
BEQUESTS
One of the easiest and most popular planned
gifts is a bequest through a will or living trust. A bequest can be property,
securities, a specific dollar amount of cash, a percentage of an estate or the
balance of an estate after an individual provides for loved ones. A charitable
bequest enables the donor to retain assets during a lifetime, while helping the
Library in years to come.
RETIREMENT PLAN ASSETS
The accumulation of assets in
retirement plans is the basis for a financially secure future, but can also be a
great source for charitable giving. Passing all or a portion of these assets to
the Library Foundation after the donor's lifetime can potentially reduce or
eliminate income and estate taxes on the assets.
NEW LEGISLATION FOR IRA OWNERS 70 ½ AND OLDER
Effective
August 17, 2006 through December 31, 2007, IRA owners who have attained the age
of 70 ½ can make a contributions directly to charity from their IRA. These
contributions, which may not exceed $100,000, are applied to the IRA owner's
required minimum distribution and are not included in their income (donor does
not receive an income tax deduction).
CHARITABLE REMAINDER TRUST
Similar to a charitable gift
annuity, this strategy designates assets to the Library Foundation while the
donor retains an attractive income during his/her lifetime and secures a current
income tax deduction for the gift. The gift asset is transferred to a trustee
who then pays a specified payment to the donor during his/her lifetime before
distributing the trust assets to benefit the Library Foundation.
CHARITABLE LEAD TRUST
Under this type of trust, cash or
securities, which are the usual assets contributed, are transferred to a trustee
who makes payments from the trust to the Library Foundation for a period of
years. At the end of the specified time, the trust terminates and the assets
return to the donor or to the beneficiaries of his/her choice.
LIFE INSURANCE
By purchasing a life insurance policy and
naming the Library Foundation as owner and beneficiary, a donor can receive a
charitable income tax deduction for each premium payment. The transfer of a
paid-up life insurance policy allows an individual to receive a charitable
income tax deduction approximately equal to the cash surrender value when the
policy is donated.
MATCHING GIFT
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