The Stowe Free Library Endowment Fund

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Endowment funds provide a valuable opportunity to invest in future generations by providing a permanent financial resource that generates annual income for a designated purpose. In this way, donors create a living legacy that spans generations. Library endowment funds are established with gifts of any size. The income is used according to the wishes of the donor and typically benefits a specific Library collection, program, or service.

 

Why should I make a gift to the Endowment Fund?

An endowment is a permanent fund that provides income each year to support the library. A gift to the Stowe Free Library Endowment Fund provides essential stability, grows over time, and is a permanent source of funding to help meet both current and future needs.

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How can I make a gift to the Endowment Fund?

There are many types of charitable gifts from the modest to the substantial. No gift is too small.  The Stowe Free Library Endowment Fund welcomes annual donations, pledges, memorials, and tribute gifts as well as planned gifts.

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Planned giving - Bequest through a will or trust

Your will or trust can designate that a specific amount be transferred as a gift to the Stowe Free  Library Endowment Fund. You may give a percentage of your estate or the residue after other terms of the will have been satisfied.

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A planned gift is a charitable donation that you plan now, but is not received by the library until later. It is a commitment to the library made in a bequest through a will, trust, or life insurance policy or some other arrangement.

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Honor a loved one with a Memorial Gift.

Memorial gifts will benefit the endowment and place the deceased’s name on a special plaque within the Library reserved for that purpose.

If you have made such a commitment, please notify the library. Such a designation may reduce your estate taxes. Check with your attorney.

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Gifts of cash or appreciated securities such as stocks or bonds.

When you make any gift outright, it may be fully deductible to the extent permitted by federal law.  Gifts may be in the form of cash, securities, or in selected cases, other gifts of value.

Plus, you have the joy of seeing your donation put to good use right away. You may receive an income tax deduction if you itemize on your tax return and may avoid capital gains tax. Check with your tax advisor.

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Beneficiary designations

You may select to make a gift of life insurance, annuities, or IRA’s by naming the Stowe Free Library Endowment Fund as a beneficiary of your insurance policy.

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Tax Benefits

A gift to the Stowe Free Library Endowment Fund can provide substantial tax savings to the donor, which in effect reduces the cost of the gift.

• Savings in income taxes by gifts of cash, securities, or property made during the fiscal year.

• Savings in inheritance and gift taxes by bequests, gifts of life insurance, testamentary trusts for gifts, or living trusts.

• Savings in capital gains taxes when gifts of appreciated securities or other property are made.

Be sure to check with your tax advisor or attorney to see whether a gift of this type may be advantageous to you.

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Is my gift tax deductible?

All contributions to the endowment are tax deductible.