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Giving WAYS OF GIVINGYou may give to the Library and become eligible for special tax benefits. Among the ways you may wish to consider are: Bequests The Library has received bequests over the years from relatively small amounts to significant sums. You can leave a specific amount or percentage of your residuary estate, or property, such as stocks, bonds, or personal property, including real estate. You can make a gift to the Library through your will, revocable trust, or retirement plan. Your estate will receive an estate tax charitable deduction for the full market value of your gift. A bequest of the residue of your retirement plan (IRA, 401K, etc.) is especially effective since your gift avoids both estate and income taxes. Life Income Gifts Life Income plans enable you to put cash, stock, or real estate and other assets into a fund, receive an income for life or a term of years (or provide income to another individual, such as your surviving spouse), and name the Library as the beneficiary of the remainder. By entering one of these plans, you can obtain an income tax deduction now, reduce your taxes, and often avoid capital gains taxes while increasing your income stream. Gift of Life Insurance You can name the Library as irrevocable owner and beneficiary of an existing life insurance policy that you no longer need. You also can purchase a new policy to benefit the Library. Life insurance gifts also offer income and estate tax advantages. Gifts of Appreciated Securities You can give a gift of appreciated securities and receive favorable tax considerations. Gifts of Cash You may make a gift in cash; multiple year cash pledges are appreciated. Gifts of all levels are helpful. Gifts also may be made using Visa or MasterCard; in some cases, donors earn air miles for travel using this method. Memorial Gifts You can remember a loved one, celebrate an event, and honor a friend or colleague by making a cash gift to our book fund. All contribution amounts remain confidential. Our Advice to You Check with your attorney or financial advisor for specific advice regarding the method of giving that will best suit your particular means and circumstances. Gifts to our Library are tax deductible in the manner and extent provided by law. Your company may match your donation. Please check with your personnel office for details. Gifts Receipt Policy The Hingham Public Library accepts gifts of grants and contributions for the renovation of buildings, for endowment, as restricted gifts to purchase specific collections and for general operating support. Unrestricted gifts are directed to the building fund for the duration of the building project. The Library Board of Trustees retains the right to determine whether conditions of a gift will be accepted. Conditions cannot conflict with the Library's mission or policies. Making the Gift Contact the Library Director (781-741-1405 ext. 2600) for additional information.
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