Planned giving incorporates many different kinds of financial and tax benefits. Planned gifts include gifts through bequests, charitable gift annuities, gifts of life insurance and charitable trusts. Although all planned giving needs to be discussed with your financial advisor, we welcome the opportunity to confidentially review the following vehicles with you. Please call Dorothy Klein, Executive Director, at 954-357-7382 or via email to schedule a personal appointment.
Many of our supporters make charitable gifts by naming the Broward Public Library Foundation as a beneficiary in their wills. Your will can include gifts in the form of property (cash, securities, etc.), a percentage of your estate, and/or the residue of your estate (property remaining after other bequests have been fulfilled).
The legal designation for the Broward Public Library Foundation in wills and trusts is 'Broward Public Library Foundation, Inc. (BPLF), Fort Lauderdale, Florida'.
Charitable Gift Annuities
The Broward Public Library Foundation offers Charitable Gift Annuities, a program that provides participants with the ability to increase their income, realize an immediate tax benefit and help the Library Foundation provide funds for needed programs and materials throughout the Broward County Library system.
With a minimum investment of $5,000, you receive a lifetime return on the investment that tends to be higher than the interest currently being paid by financial institutions. In addition, you not only receive a charitable deduction that helps you reduce your income tax liability, but a portion of the quarterly payments you receive each year is also tax-free.
Charitable Gift Annuities offer significant savings opportunities when appreciated securities are used to purchase the annuity instead of cash.
Gifts of Life Insurance
Some of our supporters no longer need their life insurance that was purchased years ago to provide for children or other family members and choose to donate the policy to the Broward Public Library Foundation. Life insurance provides several effective ways to benefit the Library Foundation. Your gift will provide the Library Foundation with a substantial deferred gift while you pay relatively modest premium payments. In some instances, leaving a cash gift to the Library Foundation and equal gift of life insurance to family members who are named as beneficiaries may enable one to leave more of an inheritance.
Charitable Lead Trust
Individuals can use a charitable lead trust to benefit the Broward Public Library Foundation. Based upon the circumstances, lead trusts can pass assets to family members at reduced estate and gift tax costs.
Gifts of Retirement Plans
Your IRA assets can be transferred to a charitable remainder trust and the trust will provide life income to the beneficiary with an eventual gift to the Broward Public Library Foundation. You may also name the Broward Public Library Foundation as a beneficiary of a portion or all of your IRA or other retirement fund(s).
If you wish to consider this type of gift, please contact the administrator or person in charge of your IRA.
Gifts of Equities and Securities
Gifts of equities and securities can provide attractive tax benefits. Property that you gift that has increased in value and that you have held long enough to qualify as long-term property may enable you to avoid capital gain taxes.
Life Income Gifts
A life income gift enables you to irrevocably transfer some assets to the Broward Public Library Foundation now, and in return, you (and a survivor, if you desire) receive income for life.
A variety of trust arrangements are available that can provide income for your life or provide the Library Foundation with income during your life. In some instances, you can place money in a qualifying trust, which will provide income to you (and your spouse) for life. The remaining principal is paid to the Library Foundation upon your death or on a specified date.
These trusts, generally described as charitable remainder trusts, assure you of income while providing an immediate charitable deduction to you that can be taken to reduce your taxes.