Help yourself: Lifetime interest & tax savings

Give cash, stocks, or other property to the Champaign Public Library Foundation now and earn interest income during your lifetime. You‘ll save income tax and avoid capital gains and estate taxes, too. Through a charitable remainder trust, for example, you can give appreciated assets, obtain a charitable deduction, avoid capital gains tax, and receive an interest income for your lifetime.

Help your family: reduce estate taxes

You can reduce estate taxes by:

• Naming the Foundation as the beneficiary for funds in an IRA or other retirement plan. You‘ll also avoid income tax on the tax-deferred income.
• Naming the Foundation as a beneficiary in your will for cash, stocks, real estate and other assets. Bequests to the Foundation result in a dollar-for-dollar reduction of the taxable estate.

Use the following wording to designate the Champaign Public Library as a beneficiary in your will:

”I give __% and/or $______ of my residuary estate to the Champaign Public Library Foundation, 200 West Green Street, Champaign, IL 61820, to provide funding for ____________ at the Champaign Public Library OR for library collections, services, and/or programs as determined by the administration and Board of Directors of the Champaign Public Library Foundation.”

Champaign Public Library Foundation tax ID information: 37–1313456

One easy way to give: life insurance policies

Once your family is taken care of, naming the Foundation as the beneficiary of life insurance policy is a simple way to make a significant gift to the library.