Giving Gifts for the Library
When making a planned gift to the Duluth Library Foundation, both you and the Library will benefit. Several types of planned giving are available:
Outright Gifts. When you make charitable gifts during your lifetime, you can leverage charitable deductions on your income taxes. Donors are entitled to income tax deductions equal to the entire amount of the gift, providing deductions are itemized and do not exceed certain limits.
Bequests. Name the Duluth Library Foundation in your will or trust to donate a portion of your estate. You can specify a dollar amount, a block of appreciated stock, or a percentage of your estate. This type of gift can substantially reduce your estate’s taxes.
Life Insurance. If you designate the Duluth Library Foundation as the irrevocable beneficiary of a life insurance policy, your annual premium may be tax deductible. The cash surrender value of an existing policy may also be tax deductible. Life insurance policies that have a cash value can be donated to the Foundation.
Endowments. Use an endowment to ensure that your support of the Duluth Public Library goes on forever. An endowment to support the library ensures that future generations of Duluth residents will have access to educational and cultural resources. Endowment gifts can be used to memorialize you or a loved one.
When you make a provision for the Duluth Library Foundation in your will or beneficiary arrangements, you make your mark with a gift that will shape the future and benefit generations to come. We know that your plans may take many years to be fulfilled and that much can change between now and then. However, the fact that you value the Library enough to take this step conveys a degree of value for the library that exceeds simple support. We want to honor your commitment.
To become a member of the Legacy Circle, all you need to do is inform us, by means of our downloadable Legacy Circle form, of the provision you have made for the Foundation in your will or trust. The amount can vary and does not have to be disclosed. You may remain anonymous on our donor wall if you wish.