Making a Gift
The Urbana Free Library Foundation is able to accept gifts of many types of assets . It is a tax exempt 501(c)(3) organization, so there are tax advantages to making a gift. Your gift is tax deductable in the year that you give it.
All contributions to the Foundation will be used exclusively for the benefit of The Urbana Free Library.
- Gifts of Cash
- Gifts during Your Life
- Annual Gifts
- Memorial Gifts
- Matching Gifts
- Gifts in Your Will
- Gifts of Appreciated Stock
- Gifts of Retirement Plan Assets
- Gifts of Life Insurance
- Gifts of Real Estate
Gifts of Cash
The simplest way to give is a gift in the form of cash. Cash gifts may be made to the Foundation for its determination of which projects are in need of support, or they may be made to support specific projects.
- Give Securely Online
- Give Using Standard Mail
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Gifts during Your Life
During your life you may give money or assets that can be converted to money to support specific projects of the Foundation, or you may give assets which the Foundation is free to apply for projects most in need of funding.
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Annual Gifts
You may wish to give a certain amount each year to the Foundation. The Foundation can send you annual reminders if you request it to do so.
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Memorial Gifts
A gift to remember or to honor a special person is a gift that gives twice: Once to the person being honored or remembered, and once to the Foundation.
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Matching Gifts
Some employers will match charitable contributions made by their employees. Ask your employer. It could double the value of your gift.
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Gifts in Your Will
Long after all of us are gone, the Foundation will continue to expand and undertake new projects to enhance the library. Your bequest can make a difference to the library and to the community, which future generations will enjoy.
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Gifts of Appreciated Stock
Giving stock or mutual fund shares that have appreciated in value permit the donor to claim the current stock or fund value for the gift, without incurring tax liability. As a tax exempt organization, the Foundation will not have to pay taxes on the stock’s gain in value.
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Gifts of Retirement Plan Assets
Many retirement plan assets are subject to both income tax and estate tax if they are part of the owner’s estate. By making a gift of those assets, the entire value of the assets becomes available for the use of the Foundation.
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Gifts of Life Insurance
Many retirement plan assets are subject to both income tax and estate tax if they are part of the owner’s estate. By making a gift of those assets, the entire value of the assets becomes available for the use of the Foundation.
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Gifts of Real Estate
Property that is paid in full and that has appreciated in value can be an excellent gift. You can deduct the fair market value of the gift property. The Foundation can sell the property and pay no income tax, capital gains tax, or estate tax, enabling it to use the full value of your gift.
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Gifts to the Foundation
are tax deductable. For
more information, email foundation@tufl.info.
For questions about Foundation projects,
contact Executive Director Debra J. Lissak at dlissak@tufl.info or by phone at 217-367-4058.
