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Planned Giving & Endowments

Planned Giving & Endowments

"Planned Giving is the donor's process of providing financial support to an organization, while achieving estate planning and financial planning objectives. Planned Giving gifts come in three forms unusually - donations, bequests or deferred gifts. Endowments fall under the category of Planned Giving. Endowments are funds that are set aside, invested, and a portion of the earnings are used to fund a particular activity or purpose of your institution. Endowments are not "rainy day" funds, a saving account, or a deficit filler. Endowments are attractive for a number of reasons:

 

Endowing Your Library | Public Libraries & the Law [PDF version]
An endowment is a permanent fund that provides income each year to support your library. H
ere are some important things to know when considering the establishment of endowment funds:

Special District / Municipal/ School District Public Libraries:

Association Libraries

*Under NYS General Municipal Law and subsequent court rulings, all funds (including privately raised moneys) must be invested in the following limited number of financial vehicles:

Public Libraries (all types):

Friends Groups:

Individuals
Individuals may establish endowment funds:
Friends can fundraise to grow the fund(s) if they clearly state that monies raised will be added to the fund. Neither the Friends group nor the library has any direct authority over these fund(s).


Related Resources


Questions?
Contact Rebekkah Smith Aldrich, MHLS Coordinator for Library Sustainability
845.471.6060 x39 or rsmith@midhudson.org

 

updated 8.16.13

 

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