petersburg public library
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Support your library with a contribution to one of our Endowment Funds

The Library has two endowment funds: the Petersburg Public Library Endowment Fund and the Petersburg Public Library Art Education Endowment. The principle of both funds are endowed and will never be spent, however the annual interest earnings will provide a stable, ongoing funding source for the Library. Both funds are managed by the Alaska Community Foundation. Donations are tax deductble.

The Petersburg Public Library Endowment Fund was established in 2007 to hold funds for the construction of a new library. With that goal reached, the fund now provides a stable, ongoing funding source to improve and expand the programs and services provided by the Library in our new facility. Gifts of $100 or more can be acknowledged on the library's Fishing Wall.
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The Petersburg Public Library Art Education Endowment was established in 2012 by Petersburg resident John McCabe. The fund provides financial assistance to the library that will be spent exclusively on art and cultural programs.  The annual interest earnings will provide a stable, ongoing funding source to enhance arts programming at the Library.
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Fund Guidelines

Arts Programs funded in 2014!
Northwest Coast Formline Workshop with Robert Hoffman
Teen 'Zine Workshops with Mary Koppes

Those who donate $10,000 or more may have a library endowment named for them and can specify how proceeds are to be used to benefit the library and its patrons. Contact the Library Director at (907)772-3349 to discuss the guidelines for designated gifts.

Six Ways to Give

Gifts of cash Cash (in the form of a check, credit card or money order) is an easy and convenient way for you to support the public library. Gifts of cash enable you as a donor to claim a tax deduction.

Securities/Stock The library can accept gifts of publicly traded stock, publicly traded bonds, closely held stock, restricted stock, partnership interest (including family limited partnerships) and mutual funds. Gifts of appreciated stock offer important tax advantages since their full fair market value is deductible as a charitable contribution up to 30 percent of your adjusted gross income each year when you itemize deductions, with any excess carried forward an additional five years.  You do not have to pay capital gains taxes on the appreciated portion of your gift. After the Alaska Community Foundation liquidates the securities on the library’s behalf, the full value of the gift is available to support your charitable goals

Real Estate The library can accept the gift of a house or other personal residence, farm, commercial building and undeveloped land. A gift of real estate that you have owned for more than a year entitles you to the same federal tax advantages as those for gifts of securities – a tax deduction for the fair market value of the property – while allowing you to avoid paying capital gains tax. Gifts of real estate in excess of $5,000 require a qualified appraisal to determine the charitable deduction.

Personal Property The library can accept gifts of personal property, such as artwork or jewelry. After expenses and liquidation of personal property, the full value of the gift is available to support your charitable goals. Gifts of personal property in excess of $5,000 require a qualified appraisal to determine the charitable deduction.

Bequests Naming the Petersburg Public Library in your will or living trust is a popular way to support the community. A charitable bequest can be a specific dollar amount, a percentage of your estate, or what remains after other bequests, including to family members, are made. Or, your will can specify that your heirs receive lifetime income from your estate, with the remainder going to the Library for charitable purposes. The bequest can flow into any type of fund you choose to meet your charitable goals.

Life Insurance, Retirement Accounts or Pension Plans By naming the Petersburg Public Library as the owner and beneficiary of a life insurance policy, you receive a tax deduction for approximately the case surrender value. Retirement account funds (IRAs or company plans) may be given to the Library by proper beneficiary designation

For more information call the Library Director at (907) 772-3349

Questions and Answers

How does it work? Your gift is placed in an investment fund that continues to grow while part of the earnings are used to sustain and enhance library services and programs.

Why is it necessary? With our endowment funds, we can substantially improve our services and continue to offer new and exciting programs and services that ensure that free access to lifelong learning is available for generations.

Can I direct how my donation is spent? Those who donate $10,000 or more may have a library endowment named for them and can specify how proceeds are to be used to benefit the library and its patrons. Contact the Library Director at (907)772-3349 to discuss the guidelines for designated gifts.

Where are the gifts invested? The Petersburg Public Library Endowment Funds are invested with the Alaska Community Foundation (ACF). ACF receives contributions from a broad range of Alaskan individuals, private foundations, and nonprofit organizations and then invests the funds with private managers.

For more information call the Library Director at (907) 772-3349

 

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