If you are interested in leaving a personal legacy to the Foundation for Monterey County Free Libraries (FMCF) and preserving the future of Monterey County Free Libraries for generations to come, please see below….
FMCF needs public support to ensure that it will continue to have a significant presence in the community in promoting literacy.
In addition to cash donations, there are other options that you may consider when making a gift.
Stocks or Securities:
A gift of appreciated stock can offer a dual benefit: you may avoid tax on the capital gain and also qualify for a tax deduction on the market value of the stock at the time of the gift.
Bequests & Beneficiary Designations under Trusts, Life Insurance Policies, Annuities & Retirement Plans:
Donors are encouraged to make bequests to FMCFL under their wills, and to name FMCFL as the beneficiary under trusts, life insurance policies, commercial annuities and retirement plans. This type of donation is well suited for people who see value in what we do and want to help but cannot donate the funds at the present time. These types of vehicles will defer donations into the future. Because you are not making gifts until after your lifetime, you can always change your mind at any time prior to death if circumstances change.
Charitable Remainder Trusts (CRT) & Charitable Lead Trusts (CLT):
FMCFL can also be named as a remainder beneficiary of a CRT or an income beneficiary of a CLT. Donors will benefit from a charitable deduction when transfer is made during lifetime. Transfer may also be deferred until after lifetime.
Establishing an endowment fund is a lasting way to provide ongoing support to the Monterey County Free Libraries. Endowment funds are invested pools of money that provide a reliable and permanent source of income. FMCFL adopts appropriate investment and spending policies that ensure the funds will remain in perpetuity. Because the initial donation is preserved while the income is used to carry out your expressed wishes, the endowment will provide assurance that programs which are important to you will survive for future generations
Apart from receiving great satisfaction for contributing to a worthwhile cause and creating a legacy that will be enjoyed by generations to come, these gifts can offer tax benefits during donor’s lifetime and/or reduce estate taxes.
Tell your attorney that our legal name is the Foundation for Monterey County Free Libraries Inc. and our tax ID number is 77-0256346.
Please ask your financial advisor or contact the Foundation for Monterey County Free Libraries for additional information if you are considering naming the Foundation for Monterey County Free Libraries in your estate plan or are considering making a gift to an endowment.
To learn more about these gift opportunities or to receive information about different ways to make a planned gift, please contact us.