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1640 S. Lindbergh Blvd. • St. Louis, MO 63131 • (314)
994-3300
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Foundation > Types of Gifts
Types of Gifts:
Outright Gifts
- Cash, publicly traded securities or mutual fund shares
- Closely held stock
- Workplace giving and/or matching gift programs
- Real estate
- Life insurance policies
- 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) 994-9411 ext. 274 or jbogart@slcl.org
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