The Lincoln Township Public Library became a reality and continues to flourish due to the willingness of our community to commit to a property tax levy supporting the library. The library also receives funding, as reported in our annual report, from the state of Michigan, grants, contracts with Baroda and Royalton townships, book fines, interest and dividends. In Michigan, support for libraries also comes from an allocation of penal fines which accrue through municipal and justice courts for violations of the law. Realistically, costs continue to increase to provide the level of resources and services that are necessary in a 21st century library that offers a technologically rich environment.
Your support can make a significant difference in our ability to serve our residents at no cost and to function as the cultural hub of our community.
The Board of Trustees has operated in a fiscally responsible manner throughout the library’s history. By prudent saving and management practices, setting aside funds for facility needs, and continually planning for the future, the Trustees have paid for the library building and assured the financial stability of the library. Accordingly, with the long term interests of the library in mind, in March 1995 the Board of Trustees established the Endowment Fund, setting a realistic yet robust goal of $1,000,000. In 2003, the fund was transferred to the Berrien Community Foundation where it will be maintained in perpetuity, drawing solely on the interest from the Fund’s assets, subject to the Foundation’s guidelines.
There are several ways organizations, individuals, or businesses may contribute to the Foundation:
- Outright Gifts can be a part of your annual tax planning.
- Cash given to the library allows the advantage of income tax savings for those who itemize. You may contribute by check or securely online using Authorize.net.
- Securities allow the donor to give without impact on current spendable income while also realizing tax savings.
- Tangible Personal Property may be deducted at fair market value of the property without any taxation on the appreciation of the property.
- Bequests. Create an enduring memorial, one that will positively impact generations to come, by remembering the Lincoln Township Public Library in your will. You may consider giving a specific amount, a percentage of your estate, or a part of what remains after you have cared for your loved ones. You may add a bequest to an existing will with a codicil or amendment.
- Life Insurance. Name the Lincoln Township Public Library as a beneficiary on an existing life insurance policy, or contribute a policy that is no longer needed. You can consider looking at this life insurance option if you are looking to take out a policy with Lincoln Township Public Library as the beneficiary.
- Trust Arrangements. A charitable lead trust can reduce your beneficiaries’ taxable income by first donating a portion of the trust’s income to a charity such as the Lincoln Township Public Library. After a specified period of time, the remainder of the trust is transferred to the beneficiaries.
We urge you to consult with your tax advisor to determine the best option for you.
For additional information, please contact the library, at:
Lincoln Township Public Library
2099 West John Beers Road, Stevensville, MI 49127
Phone: (269) 429-9575
Email: info@lincolnlib.org
