Legacy Gifts
There are many creative and flexible giving options to achieve your unique charitable vision. By pledging your commitment, you join a community of supporters who believe in the library and the power of reading. There are many options described below to plan your giving.
Bequest by Will or Trust
An easy way to make a lasting gift to the causes that are important to you during your life is to make a bequest through your will or trust. By simply including information in your estate planning documents, you can easily establish a charitable fund (or add to an existing fund) that speaks to your charitable intentions. The bequest can be for a specific dollar amount, a percentage of your estate or residue of the estate. Sample bequest language to share with your attorney: “I give and devise to The Friends of West Florida Public Library, EIN 23-7368565, all (or state a dollar amount or a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for general support.”
Life Insurance Beneficiary
By naming The Friends of West Florida Public Library as a beneficiary of your life insurance policy, you can make a much larger gift than what you possibly could make during your lifetime. There are a number of different ways you can gift a life insurance policy. You can irrevocably name “The Friends of West Florida Public Library” as the owner of an existing policy, deduct a calculated value of the policy as a charitable gift or choose to name “The Friends of West Florida Public Library” as the beneficiary of a life insurance policy that you continue to own. Charitable donations specifically designated to pay for future premiums on exisiting policies are eligible for a tax deduction in the year the gifts is made.
Property & Real Estate
Free yourself from expenses, taxes and fees by donating real estate holdings to the Friends. Properties have the potential to be worth more as a tax donation than the actual value of the holding. All types of property, from land to single and multi-family homes, condominiums and commercial sites are welcomed.
Be sure to consult your legal or tax adviser on how specific rules may apply to your individual situation. As a recognized 501(c)3 organization, donations, gifts, bequests, devises, and transfers made to the Friends are tax deductible to the full extent of the law and current regulations. Our EIN number is 23-7368565. We invite you to check our status at https://www.irs.gov/charities-non-profits/search-for-tax-exempt-organizations.