Donate to the Library
Dear Library Supporter:
A strong and vibrant library is important to our community. That is why I am asking you to include the Rochester Hills Public Library on your annual giving list. Your contribution is particularly important at this time of economic uncertainty.
Our goal is to make your library a welcoming, entertaining, inspiring and safe environment for you and your family. Serving residents of Rochester, Rochester Hills, and Oakland Township, we select materials, plan programs and offer services for everyone. With your gift, we will be able to continue to improve technology and provide up-to-date materials and information to people of all ages.
Your contribution, no matter what the amount helps us to provide resources to enhance your life, delight your child, and stimulate your mind. And remember that your contribution is tax-deductible.
Thank you for supporting your library
|Give a Gift to the Rochester Hills Public Library|
To Make An Estate or Trust Gift
If you plan to make a gift from your estate to the Library, please discuss the following options with your attorney and choose the best option for you and your tax planning.
These types of gifts are truly flexible ways to support the Rochester Hills Public Library’s mission. Donors may leave a percentage of their estate or a fixed dollar amount. Another option is to name the Library as a residual beneficiary, leaving the Library what remains after specific bequests to loved ones. These may be unrestricted gifts, to support the library endowment or may be used where most urgently needed. Your gift may be restricted for a specific purpose, such as a department, program or the purchase of materials or technology.
The Library Director would be happy to assist donors with the appropriate language to create such gifts, although we urge that independent legal counsel be sought when preparing any type of will or trust.
Sample Trust Agreement (PDF)
Cash, Stock, Retirement, Real Estate, or Personal Property Gifts
This is the simplest way to give and allows a charitable deduction on both your federal and Michigan income tax.
In return for a gift of securities, you can receive a gift credit, income tax deduction and capital gains advantages.
A gift of residential commercial or undeveloped property can have substantial benefits to you and the library.
You can receive a gift credit and an income tax deduction and may pay no capital gains tax.
Gifts from your estate
Assets from an IRA, 401 (k) or other qualified retirement plan
You may be able to avoid income and estate taxes, and leave other less taxed assets to your beneficiaries.
Proceeds from a life insurance policy
You can make a future gift without affecting current capital assets.
Gifts that provide income
Charitable gift annuities, immediate or deferred
You transfer an asset to the library, which pays an annuity throughout the lifetime of the beneficiaries. The principal then is passed to the library.
Charitable remainder unitrusts
You transfer an asset to the library. Each year you receive a percentage of the value of the trust. When the trust terminates, the remainder passes to the library.
Use Bequests to Benefit the Library
Making a Bequest to the Rochester Hills Public Library
Bequests, both large and small, have been important to Rochester Hills Public Library since its founding in 1924. A bequest from Eva Parker Woodward was used to build the first library. A second bequest for Grace Curry funded an addition to the first library. The bequest from the estate of Alice Horter went toward books for the children’s collection.
You need a will to direct how your property will be used and distributed after your lifetime. The establishment of a bequest is an easy and convenient way to develop substantial future support for a collection, program or service that is important to you.
A gift to the Rochester Hills Public Library through your will provides several advantages
• Charitable gifts made through your will are deductible for estate tax purposes
• A charitable bequest may place your estate in a lower tax bracket
• You may direct your bequest to a specific department, program or the Library as a whole
If you wish to establish a $10,000 endowment fund through your will, you can request that it be named for you or anyone you wish to honor.
How to Word Your Bequest (PDF)
Gifts that Provide Income
Receive and/or Provide Income
Life income gifts allow donors to make a gift of cash or appreciated property to Rochester Hills Public Library while retaining all or a portion of the annual income generated by the asset.
Security of a constant stream of income
Gift annuity plans are advantageous if you prefer the security of constant income throughout your lifetime or for a specific number of years.
Charitable Gift Annuity
A charitable gift annuity is a simple agreement between you and the Library that pays you a fixed annual income (in quarterly installments) for life in return for your immediate gift.
Charitable Remainder Annuity Trust
Charitable Remainder Annuity Trust can enable you to contribute to Library while providing yourself and/or a loved one an income for life or a term of years.
For variable or growing income
If you prefer supplemental income and growth potential, you may want to consider the Library’s variable income plan.
Charitable Remainder Unitrust
A Charitable Remainder Unitrust can enable you to make a contribution to the Rochester Hills Public Library while providing yourself and/or a loved one income for life or for a term of years. This type of trust may be tailored to suit your investment objectives.
Transfer Wealth to Your Heirs with Tax Savings
Transfer wealth to your heirs and support Rochester Hills Public Library
A Charitable Lead Trust allows you to make a future transfer of wealth to your heirs, while substantially reducing estate and gift taxes, and provide an income stream to the Rochester Hills Public Library for a specific number of years.
How we benefit
During a specified number of years, a fixed or variable income is paid to the Library, depending on the type of trust created. You may designate how your gift is used at the Library.
How your heirs benefit
At the end of the trust term, the assets are passed to your heirs, or to a trust for their benefit.
How you save taxes
You receive a charitable tax deduction for the current value of the annual income payments to Library during the term of the trust. Any appreciation of the trust assets over the term of the trust is not subject to gift or estate tax.
How you can establish a Charitable Lead Trust
You can establish a Charitable Lead Trust with publicly traded securities, mutual funds, closely-held stock, income-producing real estate, partnership interests, or a combination of the above. Typically, a lead trust is most effective for high-net-worth individuals who wish to fund the trust with assets valued at $500,000 or more.
Make a gift today!