Donating to the Belmont Library Foundation
Thank you for your interest in learning more about donating towards the construction and endowment of our new public library in Belmont! Giving can occur in many different ways as outlined below. For more information about these and other possibilities, please contact Larry Link at firstname.lastname@example.org.
Ways of Giving
Often individuals consider such gifts a “one-time” effort and write a check. This is great! But when substantial challenges are undertaken, many people think about what they can accomplish over a period of time. Whether you consider a pledge spread out over three to five years, or getting to a number based on monthly automatic payments, there are many ways to reach a higher level of giving when you make your gifts over time. The Foundation will work with donors to establish a gift level and contribution program to match individual needs.
Another way to leverage your giving is through the power of careful planning. For instance, you may own highly-appreciated stock. The IRS subsidizes your giving by allowing write off of the full market value of that stock made as a charitable gift, which also helps you avoid the capital gains tax. As an example, someone who purchased Apple, Amazon, Google or Netflix stock holdings for $100 might have seen the value of this stock grow to $1,000 over time. If you are in a 30% federal tax bracket, a donation of those shares offsets $1,000 of income for most taxpayers, which is equivalent to a $300 reduction in your taxes. Furthermore, the donor would avoid a capital gains tax of $150 on that amount.
Your or your spouse’s employer may offer a matching gifts program that supplements employee gifts to charities. Your human resources staff can provide guidance or contact us. We are happy to research how your company’s policy works.
Finally, in addition raising funds to support a new building, some donors may be interested in contributing to the endowment that funds future capital needs and special initiatives of the Library. Donors can make a bequest provision in their will, or even earmark a portion of their 401(k) or IRA retirement account — another great way to avoid taxes down the road.
As the work of the Building Committee progresses, opportunities will arise to honor our donors. Town organizations, businesses, families or teams can join in this effort. Our goal is to be inclusive of all who help make our new Library a success. Stay tuned for more information!