Planned giving is a type of charitable giving that allows you to leave a legacy gift to a nonprofit organization. This can include donations of money, assets, or other types of property. Planned giving is often done through a will or a trust. It can provide tax benefits to you and your loved ones, while also providing needed resources for the Denver Public Library.
Beneficiary Designation Gift
A beneficiary designation gift is an easy way to make a planned gift to support Denver Public Library Friends Foundation. You can designate us as a beneficiary of a retirement, investment, bank account, or current life insurance policy. The process is very straightforward – most banks and financial institutions will provide you with a form to complete to indicate the beneficiary or beneficiaries and their respective percentages.
Gifts of Life Insurance
Individuals can also make a gift of life insurance by making Denver Public Library Friends Foundation the irrevocable owner and beneficiary of a life insurance policy that has cash value and is no longer needed. In many cases, individual donors may claim a charitable deduction when gifting a life insurance policy with a cash value. You should contact your tax advisor or a professional appraiser to determine the deduction amount.
Qualified Charitable Distributions
A Qualified Charitable Distributions make it easier to use IRA assets, during lifetime, to make charitable gifts to Denver Public Library Friends Foundation. The QCDs allow individuals age 70½ and older to make direct transfers of up to $108,000 per year (and up to $216,000 per year for married couples) from individual retirement accounts to qualified charities without having to count the transfers as income for federal tax purposes. So, these are “tax-smart” gifts for donors who must take an annual required minimum distribution from their IRAs. Since no tax is incurred on the withdrawal, gifts do not qualify for an income tax charitable deduction, but are eligible to be counted toward an individual’s minimum required distribution.
Gifts of Stock and Appreciated Securities
Gifting stock can often be more beneficial to individuals than gifts of cash. You can use appreciated stocks, bonds, and/or mutual fund shares that you have held long-term to make a donation to Denver Public Library Friends Foundation instead of cash. These gifts often help individuals avoid tax liability on the appreciated value of stocks, bonds, or securities.
Donor-Advised Funds
Many donors today are using Donor Advised Funds to optimize their tax situation while still supporting their favorite charities. These funds are set up with large financial institutions or community foundations who act as the charitable sponsor. Donors who direct gifts from these types of funds have several options for the distribution of any remaining funds upon their passing. One option is to designate the remaining balance of the fund to support Denver Public Library Friends Foundation.
Let's Discuss!
Please contact Manager of Philanthropy, Monica Yori Peritt, at 720-865-2049 or [email protected] for more information on how we can help you begin supporting the Denver Public Library Friends Foundation.
Dr Tom Noel
Central Library’s hidden gem, a generous planned gift and a “feline friend” in Western History... These are just a few elements of Dr. Tom Noel’s deep connection to Denver Public Library. Tom shares about DPL’s impact on his career, the evolving role of public libraries in society, and why he and his wife Vi were moved to include DPL in their estate plans.
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