Supporting the Rensselaerville Library
There are many ways you can provide financial support to the Library. These gifts help ensure the Library will be here for generations to come, and can benefit you and your family as well!
If you would like to discuss your gift options further, please contact Patrick Wynne, the Library Director, to explore your alternatives or to arrange a private meeting. Call 518-797-3949 or email [email protected]
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Single Contribution
Make a single donation to the Library in whatever amount you would like. You may use cash, check, credit card, or electronic bank transfer, and may make the donation in person or through our website. The Library is a charitable organization and your gift can provide you with savings on this year's tax return* while making an impact on our library.
Ongoing Monthly Contribution
You can make monthly donations of as little as $5 per month. These recurring donations, automatically deducted each month from your debit or credit card, will make an easy and sustainable impact.
Benefits to you may include:
• No hassle automatic withdrawals from the account of your choice.
• The ability to change your gift amount or the method of payment at any time.
• A record of each monthly gift that will appear on your credit or debit card statement.
• Automatic renewal, with the ability to cancel at any time.
Benefits to you may include:
• No hassle automatic withdrawals from the account of your choice.
• The ability to change your gift amount or the method of payment at any time.
• A record of each monthly gift that will appear on your credit or debit card statement.
• Automatic renewal, with the ability to cancel at any time.
Employer Matching
You may be able to match your gift to
the library! Many employers match gifts made by their employees to
not-for-profit organizations. Ask your human resources professional for a
matching gift form and make your contribution to the library count that much
more.
Retirement Assets
You can donate a gift of your
retirement assets, such as your IRA, 401k, 403b, pension or other tax deferred
plan.
IRA Rollover
If you are over 70½, you can avoid or minimize income tax on your minimum required IRA distributions by making a Charitable Rollover gift to the library of up to $100,000.* Contact your IRA custodian to set this up.
Give Retirement Assets as your Legacy
One of the best ways to leave a legacy to the Library is to appoint it as a beneficiary of your retirement assets. When retirement plans such as pension funds, 401(k) plans, 403(b) plans and IRAs are left to individuals other than a spouse, they are often subject to income and estate taxes. These two combined taxes may substantially erode the value of the retirement benefits. However, retirement benefits left to the Library are not subject to income and estate taxes and may reduce the size of your taxable estate.* To appoint the Library as a beneficiary, simply contact the administrator or custodian of your plan and inform them that you wish to leave part or all of your retirement benefits to the Library.
IRA Rollover
If you are over 70½, you can avoid or minimize income tax on your minimum required IRA distributions by making a Charitable Rollover gift to the library of up to $100,000.* Contact your IRA custodian to set this up.
Give Retirement Assets as your Legacy
One of the best ways to leave a legacy to the Library is to appoint it as a beneficiary of your retirement assets. When retirement plans such as pension funds, 401(k) plans, 403(b) plans and IRAs are left to individuals other than a spouse, they are often subject to income and estate taxes. These two combined taxes may substantially erode the value of the retirement benefits. However, retirement benefits left to the Library are not subject to income and estate taxes and may reduce the size of your taxable estate.* To appoint the Library as a beneficiary, simply contact the administrator or custodian of your plan and inform them that you wish to leave part or all of your retirement benefits to the Library.
Stocks and Bonds
You can donate your securities, including your stocks or bonds. By making a gift of your appreciated securities, you may be able to avoid paying capital gains tax that would otherwise be due if you sold these assets.*
Some of the potential benefits include:
• Avoid paying capital gains tax.*
• Receive a charitable income tax deduction.*
• Enjoy possible increased income.
Some of the potential benefits include:
• Avoid paying capital gains tax.*
• Receive a charitable income tax deduction.*
• Enjoy possible increased income.
Bequests
You can help to sustain the Library’s free services by including a gift to the Library in your will or living trust. If you already have a will or a trust, you may add the Library as a beneficiary in a codicil or a trust amendment.
Benefits of your bequest may include:
• Receiving an estate tax charitable deduction.*
• Leaving a lasting legacy.
A bequest may be made in several ways:
• Gift of a percentage of your estate
• Gift of a specific dollar amount or asset
• Gift from the balance or residue of your estate
Benefits of your bequest may include:
• Receiving an estate tax charitable deduction.*
• Leaving a lasting legacy.
A bequest may be made in several ways:
• Gift of a percentage of your estate
• Gift of a specific dollar amount or asset
• Gift from the balance or residue of your estate
Life Insurance
If your life insurance policy is no longer
needed or will no longer benefit your survivors, consider making a gift and
help further our mission.
Give Life Insurance Benefits Today
You can give your life insurance policy to the Library today and receive a charitable income tax deduction.* You can then make deductible contributions to the library each year which we will use to pay the premiums. We benefit from the proceeds of your policy.
Give Life Insurance Benefits as your Legacy
You can designate the library as the beneficiary of your life insurance policy. You will continue to own and can make use of the policy during your lifetime. The death benefit received by the Library may reduce the size of your taxable estate.*
Give Life Insurance Benefits Today
You can give your life insurance policy to the Library today and receive a charitable income tax deduction.* You can then make deductible contributions to the library each year which we will use to pay the premiums. We benefit from the proceeds of your policy.
Give Life Insurance Benefits as your Legacy
You can designate the library as the beneficiary of your life insurance policy. You will continue to own and can make use of the policy during your lifetime. The death benefit received by the Library may reduce the size of your taxable estate.*
Real Estate
Real property (such as your home, vacation property, vacant land, farmland or ranch or commercial property) can make a great gift. If you own appreciated real property, you could avoid paying capital gains tax by making a gift to us.* Your real property may be gifted to the library by executing a deed, which transfers part or all of the ownership. Your gift will generally be based on the property's fair market value, which must be established by an independent appraisal.
Benefits you may enjoy include:
• Avoid paying capital gains tax.*
• Receive a charitable income tax deduction.*
• Leave a lasting legacy.
Benefits you may enjoy include:
• Avoid paying capital gains tax.*
• Receive a charitable income tax deduction.*
• Leave a lasting legacy.
Gifts to our Endowment: Ensuring Long-Term Support for the Library's Mission
You can also make a long-lasting impact of your gift by designating that it be held as a permanent investment in our endowment fund. Your gift will be invested, and the investment earnings provide income that will be available to the Library for years to come. This sustainable support provides a lasting resource for the Library to maintain a strong financial base for the future. We can reduce our day-to-day reliance on public tax dollars and cushion the Library budget from the impact of future economic downturns.
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*All contributions are tax deductible to the full extent allowed by law. We encourage you to obtain qualified advice from your tax professional.
New in 2020: Section 2204 of the CARES Act permits eligible individuals who do not itemize deductions to deduct $300 of qualified charitable contributions as an "above-the-line" deduction, i.e., as an adjustment in determining adjusted gross income (AGI), for tax years beginning in 2020.
If you would like to discuss your gift options further, please contact Heidi Carle, Library Director, to explore your alternatives or to arrange a private meeting. Call 518-797-3949 or email [email protected]