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Types of Gifts
Outright Gifts
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Cash, publicly traded securities
or mutual fund shares
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Closely held stock
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Workplace giving and/or matching
gift programs
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Real estate
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Life insurance policies
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Limited partnership & LLC
interests
Family Foundations & Donor Advised
Funds
If you or your family has a private foundation or a donor advised
fund you can suggest distributions to the Foundation for a
Sponsorship or to create or augment a Literary Legacy Fund.
Bequests
With a bequest you designate in your will or trust that upon your
death a gift—either a set dollar amount or a percentage of your
estate—will be made to the Library Foundation. Your gift may be
unrestricted or may create or augment a Literary Legacy Fund.
Retirement Plan Beneficiary
Most assets that an heir inherits are free from income tax. However,
an heir will pay income tax on disbursements from your retirement
plan assets such as a profit sharing plan, 401(k) or IRA. If you are
going to make a charitable estate gift, it is generally better to
transfer the assets subject to personal income tax to a tax-exempt
public charity—like the Library Foundation—and to transfer assets
not subject to income tax to your heirs.
Life Income Plans
Charitable Gift Annuities
With a Charitable Gift Annuity, Foundation donors age 55 (?) or
older receive a guaranteed income for life and an immediate partial
income tax deduction, while at the same time supporting the
Foundation.
Charitable Remainder Trusts
The Foundation (and your Literary Legacy Fund) can serve as the
charitable beneficiary of a charitable remainder unitrust and
annuity trust, both of which pay lifetime income to you or other
named beneficiaries.
Gifts of Remainder Interests
The gift or remainder interest in a residence or vacation home
typically provides a substantial federal charitable income tax
deduction. A donor may deed the property to the Library Foundation
and retain the right to live in the home or use the home until
death. When the life estate concludes, the real estate is generally
sold and the proceeds create or augment the donor’s Literary Legacy
Fund.
Charitable Lead Trusts
With a charitable lead trust, you may provide that a payment be made
to the Library Foundation for a period of years or for your lifetime
or the lifetime of another. When the trust reaches the end of its
term, the remainder may be transferred back to you or other
non-charitable beneficiaries, such as family members, at reduced
gift and estate tax values.
For more information contact Jim
Bogart, Development/Foundation Manager, (314) 994-3300 or jbogart@slcl.org
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