Foundation

If you are planning to make a relatively substantial donation this year to the Coos Bay Public Library Foundation, look through your portfolio before you write a check.  Donating appreciated securities, such as stock or mutual funds, to the Foundation can be a tax-wise approach.

Advantages of Donating Stocks & Mutual Funds

Donors often choose to make gifts to the Coos Bay Public Library Foundation using long-term appreciated stocks, bonds and mutual funds due to the attractive and valuable advantages associated with such gifts which may include:

• Avoiding federal and state tax on the capital gain;
• Receiving an income tax deduction (federal and state) for the full market value of the gift upon transfer if you itemize deductions on your tax return and have held the assets one year or longer;
• Making a larger gift at a lower original cost to you.

Important Facts to Remember 

You must itemize your tax return in order to claim a charitable deduction.

You must have owned the securities for at least one year before donating them or you will be limited to a deduction of your original purchase cost of the securities.

You may take a deduction valued up to 30 percent of your adjusted gross income. If the deduction is greater than 30 percent, you may carry any unused deduction forward for up to five years into the future until it has been fully used.

Shares that have gone down in value since being purchased generally should not be donated, because a gift of such an investment does not cause the potential capital loss to be realized for tax purposes.  Instead, you should sell the shares to realize the loss and then give the cash from the sale.

We encourage you to consult your financial planner or tax advisor who can assist you in evaluating the advantages available to you when making a donation of appreciated securities.

Honorary Gifts

Celebrate a birthday, anniversary, holiday, or other special occasion with a gift to the Coos Bay Public Library Foundation honoring your friend, family member, or co-worker.   If you request, they will receive a card from the Foundation telling them that you have made a thoughtful gift in their name.

Memorial Gifts

Gifts in memory are made to honor the legacy of someone dear to the donor who has passed away and to celebrate his or her life.  For a loved one whose life has been enriched by reading and the library, memorial gifts to the Coos Bay Public Library Foundation are a meaningful tribute.

When a family suffers a loss, there are countless emotional decisions to make. To ensure your final wishes are known, it is advisable to share with your loved ones that you would appreciate memorial gifts be made to the Coos Bay Public Library Foundation in your honor.

Loved ones may prefer to ask for memorial gifts through the published obituary. The notice might read, "In lieu of flowers, the family requests contributions be made in memory of (name of person) to the Coos Bay Public Library Foundation." Alternatively, relatives and friends can be notified at the service or the information can be printed on a card of remembrance.

When receiving a memorial gift, Coos Bay Public Library Foundation acknowledges the donor's generosity with a personalized letter and receipt.  The family of the deceased is notified of the gift and any accompanying message.

Coos Bay Public Library Foundation never discloses the amount of a memorial or honorary gift.

You can leave lasting support for the Library and the people of Coos Bay by designating the Coos Bay Public Library Foundation as a beneficiary in your will, retirement account, life insurance policy, or other estate plan.

Your financial planner, tax or estate planning professional can explain about options, including ways to make a gift while receiving some tax benefits, or even providing you with income during your lifetime!

Legacy gifts large and small to the Foundation help our Library remain strong, and promote the love of reading and joy of learning.

The language of a bequest is important, but it does not need to be complex.  Clearly indicate that your bequest is for the Coos Bay Public Library Foundation.   For example: ìI bequeath (dollar amount or description of property) to Coos Bay Public Library Foundation.î

The tax identification number for Coos Bay Public Library Foundation is #93-1325334