Our public libraries have always benefited from the generosity of people who value free and open access to information and education, and who preserve those opportunities through a planned gift.
Bequests
You can arrange a bequest in your will or living trust of money, investment holdings, property, or real estate. You can also leave a residuary bequest, designating a portion of your estate for the library after your estate has been settled. This method automatically adjusts the size of your bequest according to the estate value, so you can have peace of mind that your intentions will be fulfilled as your estate is settled.
Retirement Accounts
If you have a retirement account you no longer need, you can make a direct transfer of funds from your IRA to a qualified charity like the ImagineIF Library Foundation. This can also satisfy your required minimum distributions for any given year.
Life Insurance
You can leave a currently owned or new policy to the library by naming the ImagineIF Library Foundation as the primary beneficiary of your life insurance. This option also provides an estate tax deduction.
Endowment: The Gift that Keeps on Giving
In 2018, Barbara Guttschenritter, a devoted library supporter and Foundation board member, established the ImagineIF Library Endowment Fund. The Endowment Fund is an investment account that generates income for the library while retaining the fund principal.
If you designate a gift for the Endowment Fund, your contribution becomes a perpetual wellspring of support. “I wanted to do something that would outlast me. And I wanted to help the library get the most value possible out of my gift.” said Barbara.
You can join her in creating a lasting legacy for our libraries.