Giving to the Foundation

The Foundation uses the gifts of donors to strengthen the programs, services, and resources of Parnell Memorial Library by addressing current needs and by building the endowment fund. The Foundation is now involved in three kinds of fundraising:

1. Current undesignated gifts to be used for current needs
2. Current designated gifts to be used for current needs
3. Planned gifts or current gifts to build the endowment fund.

The Foundation has determined that fund-raising efforts should focus on four areas of need:

• Literacy
• The Arts
• Natural and Cultural Heritage
• Technology

Below are some of the ways that individuals, families, corporations, foundations, and government entities can contribute to the Foundation:

• Outright gifts, which provide immediate funds in the form of checks or cash, or through a flow of funds over a pledge period of up to five years.

• Gifts of appreciated securities, which often produce special tax benefits for the donor. The transfer of securities to the Foundation can be accomplished easily and conveniently through the donor's broker. The Foundation, which must approve such gifts, can provide additional instructions for this form of giving.

• Matching gifts available through many companies. The employee's gift will be matched in varying amounts by the company.

• A gift of real estate that has appreciated from the original purchase price and has been held for more than twelve months. This kind of gift offers the donor many of the same tax advantages as a gift of appreciated securities. Proposed gifts of real estate must be specifically reviewed and approved by the Foundation.

• Bequests and planned gifts for the endowment fund to address future needs of Parnell Memorial Library. Those donors interested in arranging bequests and planned gifts are encouraged to talk with the President of the Foundation.