Fund Development

Given Memorial Library receives no state or federal funding. It is supported by our friends who use the library. A Fund Drive is held semi-annually. Your generosity is greatly appreciated.

Gifts

A gift to the Given Memorial Library and Tufts Archives can be either unrestricted or directed to a specific project or program.  All contributions are tax-deductible under our 501(c)(3) status.

We are happy to meet with you and custom-tailor a gift program that fits your specific needs.  Our goal is to help each partner utilize the tax laws in order to maximize their gift while maximizing their tax deduction.  We offer a free evaluation by a professional financial planner to determine which programs most closely align with your specific needs.  If you are interested in customizing a gift, please call (910) 295-6022, or email tuftsarchives@earthlink.net.

  1. Unrestricted Gifts
    Unrestricted gifts provide the Given Memorial Library & Tufts Archives with the flexibility to apply funds where they are most needed and to respond to unique opportunities as they arise.
  2. Directed Gifts
    A directed gift allows you to focus your support on a project that especially appeals to you.  See “Plan Your Own Program” to see examples of initiatives that are of great importance to our organization.

Planned Giving

The term “planned giving” is traditionally reserved for large gifts which involve detailed planning by the donor and his or her attorney, tax accountant or other advisors. Such planning includes a review of the donor’s objectives in making the gift, the various methods available for making the gift, and the effect of the gift on the donor’s financial and estate planning.  Tax laws encourage contributions to charitable organizations. The tax advantages vary with the nature of the gift and your financial circumstances.

Tax Considerations
It is generally advisable for donors to consult with their tax advisors or attorneys to determine the exact tax benefits to be derived from a particular gift. However, some general rules are worthy of note.

Tax benefits are based on the donor’s tax bracket. For example, assuming a donor makes a $10,000 contribution, the federal income tax savings in the year of the gift, and thus its net cost, would vary as outlined:

2008 TAX BRACKET + TAX SAVINGS NET COST TO DONOR
25% $2,500 $7,500
28% $2,800 $7,200
33% $3,300 $6,700
35% $3,500 $6,500

* Illustrated tax rates are federal income taxes only; many donors may also benefit from charitable deductions through state and local income tax savings.

IMMEDIATE GIFTS:

CASH
The most common type of gift takes the form of cash, money order or draft. Cash contributions qualify for a charitable tax deduction in the year given and the deduction is limited to 50 percent of your adjusted gross income annually. Any amount given, over the 50 percent limit is eligible for a five-year carryover.

SECURITIES
Gifts may be in the form of common stock or other securities, including closely held corporate stock, bonds, limited partnership dividends, mutual fund shares, and interest for any of the above. Such gifts are especially attractive if they have appreciated in value.  Capital Gains can be avoided when contributing appreciated stock certificates, especially using the effective Direct Transfer (DTC).

MEMORIALS
Relatives or friends can be remembered through the purchase of materials for collections, sponsoring specific programs, or assisting on various development efforts. Acknowledgements are given to the donors as well as those being honored/memorialized.

REAL ESTATE
Gifts of real estate may include land, personal residences and vacation homes, as well as commercial and rental properties. One attractive option for some is to donate their personal residence or farm, while retaining the right to live there for the rest of their lives.

TANGIBLE PERSONAL PROPERTY
Gifts of tangible personal property may consist of furniture, equipment, books, gems, precious metals, art, stamps, coins, fixtures, automobiles, manuscripts or nearly any kind of property.

GIFTS IN-KIND
These include materials or services to benefit the organizations overall goals.

DEFERRED GIFTS:

A deferred gift is one which can be created now, typically through a more comprehensive estate planning process, yet the charitable organization’s full interest in the donated asset would not be received until some point in the future.

BEQUESTS
A bequest is a written direction contained in a will, which disposed of some or all of the property controlled by the will.

How it works:

  1. You can provide now for a future gift to The Given Memorial Library & Tufts Archives by including a bequest provision in your will or revocable trust.
  2. Given Memorial Library & The Tufts Archives receives the gift and applies it to the purpose(s) you specified.

Benefits:

  • Your assets remain in your control during your lifetime.
  • You can modify your bequest if your circumstances change.
  • You can direct your bequest to a particular purpose (be sure to check with The Given Memorial Library & Tufts Archives to make sure your gift can be used as intended).
  • There is no upper limit on the estate tax deductions that can be taken for charitable bequests.
  • You know that your gift will benefit The Library & Archives tomorrow just as you intend it to today.

CHARITABLE GIFT ANNUITIES

A charitable gift annuity enables you to transfer cash or marketable securities to the charitable organization issuing the gift annuity in exchange for a current income tax deduction and the organization’s promise to make fixed annual payments to you for life. Annuity payments can begin immediately or can be deferred to some future date.

How it works

  1. You transfer cash or securities to The Library & Archives.
  2. The Library & Archives pays you, or up to two annuitants you name, a lifetime annuity.
  3. The remainder passes to The Library & Archives when the contract ends.

Benefits

  • You receive an immediate income tax deduction for a portion of your gift.
  • Your annuity payments are treated as part ordinary income, part capital gains income and part tax-free income.
  • You have the satisfaction of making a significant gift that benefits you now and The Library & Archives later.
Your Goals Your Strategy Your Benefits
Maximize your deduction; minimize the gift details Use cash to make your gift to The Library & Archives Claim your deduction against a larger portion of your adjusted gross income and make an immediate impact on The Library & Archives
Afford a larger gift to The Library & Archives — and avoid capital gains liability Give appreciated stock or bonds held over one year Buy low and give high — make a gift that costs you less than the benefit it delivers to us, while avoiding capital gains tax
Make a gift for The Library & Archives  future that doesn’t affect your cash flow or portfolio today Include a bequest in your will (cash, specific property, or a share of the estate residue) Today — a gift that costs you and your family nothing. Tomorrow — an estate tax deduction
Retain income benefits from the assets you give to The Library & Archives — thus afford a larger gift Make a contribution to our pooled income fund. Create a charitable gift annuity or a charitable remainder annuity trust or unitrust Receive income for your lifetime; receive a charitable deduction; diversify your holdings
Reduce high tax liability now; gain additional income later Establish a deferred gift annuity A larger deduction and a higher income rate than other life-income gifts offer
Make a significant gift that allows you to benefit from The Library & Archives Endowment performance; retain flexibility over your charitable giving. Establish a donor advised fund at The Library & Archives Fund commingled with The Library & Archives Endowment, distributions made on your timetable, no administrative expenses, more favorable tax treatment than gifts to private foundation
Tap one of the most valuable assets in your portfolio to make a gift to The Library & Archives Use real estate to make your gift to The Library & Archives Avoid capital gains tax, receive an income tax deduction — and have the option of a gift that doesn’t affect your lifestyle
Reduce gift and estate taxes and control the timing of passing assets to your children and grandchildren Create a charitable lead trust which supports programs at The Library & Archives for a fixed, finite period with the principal going to your heirs. Reduce gift and estate taxes, and freeze the taxable value of growing assets before they pass to your family
Avoid capital gains liability on the transfer of a business or partnership interest Contribute the partnership interest or closely-held stock to The Library & Archives Avoid capital gain liability, receive an income tax deduction, and utilize a gift asset you may have overlooked
Locate an overlooked asset that you can easily give to The Library & Archives Name The Library & Archives as beneficiary of your retirement plan; leave other assets to family Eliminate income tax on retirement plan assets; free up other property to pass to your heirs
Make an endowment gift from income rather than capital Create a new life insurance policy, or donate a paid-up policy whose coverage you no longer need Increase your ability to make a significant gift to The Library & Archives

PLAN YOUR OWN PROGRAM:

The Given Memorial Library & Tufts Archives are working to bring quality programs to the Sandhills of North Carolina.  Specific needs include:

  • Tufts Preservation Fund
    • Archival document scanning
    • Photo and film preservation
  • Capital Improvement Campaign
    • New bookshelves
    • Redesign for space maximization
    • ADA accessibility
  • Children’s Reading Program
    • Summer Reading Program
    • New Children’s Book Selection
    • Children’s Lounge (chairs, tables, couch)
  • Book Benefactor
    • Increased Book Selection
      1. Research
      2. Fiction
      3. Biography
      4. Children’s
  • Audio/Visual Sponsor
    • DVDs & CDs
      Camcorder
  • Learning Center
    • Interactive Display
    • Traveling Exhibit
  • Beautification Partner
    • Landscaping
    • Reading Garden
    • Reflection Pond
    • Safety Lighting
  • Technology Partner
    • Public Use Laptop
    • Public Use Printer
    • Public Use Research Systems
    • Internet Access

Contact:

Audrey Moriarty
Executive Director
The Tufts Archives & Given Memorial Library
(910) 295-6022
tuftsarchives@earthlink.net