Your gift to the Friends of the Dobbs Ferry Library provides essential support that allows the Library to bring new, innovative programming while continuing to deliver old favorites as well. With your generosity, the Friends also see to it that the Library's computers and other technology resources meet the ever changing needs of our community.
There are many ways you can support the Friends so that we can continue to help make the Library a vital community resource. We invite you to explore the options below.
You may donate with a check made payable to the Friends of the Dobbs Ferry Library and send it to the Dobbs Ferry Public Library at 55 Main Street, Dobbs Ferry 10522 or, click the link below.
A transfer of securities to the Friends of the Dobbs Ferry Library allows you to make a gift and receive a charitable deduction equal to the full fair market value of the securities. You pay no capital gains tax on your gift. The Friends of the Dobbs Ferry Library can provide you or your advisors with more detailed information if you are interested in making a gift of securities.
Did you know you may be able to double or triple your gift? Many corporations match personal donations with an equal or greater corporate contribution. In some cases, corporations also will match the gifts of retired employees. Check with your company's human resources department to see if your company has a matching gift program and to determine if your gift qualifies for a corporate match. We would be happy to assist with the paperwork. To find out if your company will match your gift to Friends of the Dobbs Ferry Library, email us at email@example.com
If you are age 70½ or older, you are allowed to make a charitable distribution from your traditional IRA of up to $100,000 to Friends of the Dobbs Ferry Library, and the transferred amount will be excluded from your gross taxable income. This gift counts toward your required minimum distributions (RMDs) and must be made directly from your IRA administrator to Friends of the Dobbs Ferry Library.
Many of Dobbs Ferry residents have made a grant from their Donor Advised Funds or Family Foundation. Please consider including a gift to the Friends of the Dobbs Ferry Library in your philanthropic goals this year.
There are many ways that you can leave a legacy while taking advantage of tax and other financial benefits. Gifts can be cash, stocks, life insurance, personal property, real estate, or other assets, and can be made during the donor’s lifetime or through estate planning. Planned giving can be an excellent source of tax relief and can help you now or your heirs in the future to lessen tax debt. Because this is such an important step, consulting a tax advisor is necessary. A strategic gift plan can provide for Dobbs Ferry’s library needs now and in the future.
Benefits of planned giving may include:
● Increase in current income
● Reduce current income tax and increase ability to pass on assets at reduced tax cost
● Avoid some capital gains tax
● Increase donations over current estimates
● Build a legacy while protecting both you and your family’s financial future.
To include a bequest to the Friends of the Dobbs Ferry Library, please use the following or similar language: "I hereby give and devise to the Friends of the Dobbs Ferry Library, located in Dobbs Ferry, New York. (you may leave a specific amount, a percentage, or the residuary of your estate).
If you wish that your bequest is to be restricted for any use or to the endowment. Please include that in your language.
The Friends of the Dobbs Ferry Library's Tax Identification Number is 51-0139473
Making a gift to the Friends of the Dobbs Ferry Library by beneficiary designation from any or all of the following types of financial accounts is a simple and tax-efficient way to fund your legacy and avoid the time and expenses that result from having the assets subject to the probate proces
When retirement plans such as pension funds, 401ks, 403bs, and IRAs are left to an individual other than a spouse, they can be subject to income taxes and estate taxes. The two taxes combined could erode up to 80% of the remaining benefits.
If given to the Friends of the Dobbs Ferry Library, these funds would escape all income and estate taxes and reduce the size of your total taxable estate. The Library would receive 100% of the remaining benefit in your retirement plan, whereas your heirs may receive only a portion of the benefit.
A charitable remainder trust is an irrevocable trust. Under its terms, assets are transferred to a trustee, with income paid to one or more individuals for a predetermined number of years or for the lifetime of one or more individuals. When the designated time has expired, the trust principal becomes the property of the Friends of the Dobbs Ferry Library.
If you own a life insurance policy that is no longer needed for the protection of your family or for other purposes, you may use it to make a gift to the Friends of the Dobbs Ferry Library. One way to give a life insurance policy to the Friends of the Dobbs Ferry Library is to name the Friends of the Dobbs Ferry Library as the owner and irrevocable beneficiary of the policy. In doing so, you qualify for an income tax deduction for the cash value of the policy. Alternatively, you could name the Friends of the Dobbs Ferry Library as the beneficiary of the policy. In this case, your estate would be entitled to an estate tax deduction equal to the value of the policy.
In 2007, the Friends of the Dobbs Ferry Library created an endowment fund to invest in the future of the Dobbs Ferry Public Library. The fund was established to ensure a perpetual stream of income to support programs and resources at the library for generations to come.
When you make a gift restricted to our endowment, you may designate your gift to be used for specific programs, items, collections, or services. The designation may represent one or more of your particular interests or concerns, or you may want to designate your gift in response to a specific need within the Library.