Your Gifts & Donations

Through 2017, municipal funds cover only 65 percent of our actual expenses. We must raise the balance through personal gifts, grants, fees, and endowment income. Your contribution helps us serve you better. Many thanks to individuals and corporate donors who contribute to our Fund Drive each year. Please support your library today!

Gifts to the Library

Form

All amounts and properties given, devised or bequeathed and the income therefrom shall be funds, assets and income of the Library, as such terms are used herein or in the Certificate of Incorporation, whether given, devised or bequeathed directly to the Library or to a bank or trust company for the library.

Refusal of Gifts

The Library shall refuse or renounce all grants, gifts, devises, bequests and legacies, the acceptance of which would cause it to be treated as other than a charitable organization duly qualified under Section 501(c)3 of the Internal Revenue Code of 1986 or any similar section in any subsequent federal tax law.

Reservation of Powers by Library

All grants, gifts, devises, bequests and legacies to the Library are made and accepted subject to all the terms, restrictions, requirements and powers contained in theses By-Laws and the Certificate of Incorporated, as such documents may be amended, whether before or after the making of such grants or the like, and the donor or testator, by making such grants or the like, and in consideration of the acceptance thereof by the Library, accepts and aggress to such terms, restrictions, requirements and powers.

Grantor’s Directions

A grantor may, with respect to a grant or the like to the Library, give directions:

1. (a)    as to the field of charitable purposes or objects for which the gift is to be held and used, and
2. (b)   as to whether such gift shall be a permanent fund or whether both principal and income may be utilized by the Library.

The Library will use its best efforts to follow the directions of the grantor and to carry out his, her, or its intent and purposes; however, all gifts to the Library are made and accepted by subject to (1) the provisions of Section 3 of this Article II of these By-laws and (2) the power and duty of the Trustees to modify any such directions, restrictions or conditions if the distribution of funds for the specified charitable purposes becomes, in the sole judgment of the Trustees, unnecessary or incapable of fulfillment.

Southeast Steuben County Library
Board of Trustees
Reaffirmed 10/13/11

How to make gift donations

Gifts which enhance the collection and are therefore likely to be added to the Library collection include the following:

• Local or state historical materials
• Materials which may be used for research
• Duplicates of highly used items
• Special Collection Material
• Books (both fiction & non-fiction)

You may give a gift in memory of a person, or in honor of a person. You can find a downloadable Memorial donation form here, and an Honor donation form here.

Appraisals of gifts for income tax purposes are the responsibility of the donor. Although Library staff may not appraise gifts, they can direct donors to information on appraising and suggest professional appraisers. Donors may wish to discuss prospective donations and appraisals with their attorneys.

Our very active Friends of the Library volunteers organize two semi-annual book sales, to which many others donate books, periodicals, music and movies. All proceeds of the book sales benefit the library. To donate to the Friends Book Sale see our guidelines on the Friends page.

Leaving a Legacy

Leaving a gift to the Southeast Steuben County Library in your will is a special way to continue helping the Library. Some people choose to give a specific dollar amount or asset, while others give a percentage of the remainder of their estate. Bequests can also be made in memory of a person. There are also planned gift vehicles that will allow you to make a contribution that will provide income for life for you and/or a loved one.

Bequests

If you are considering including the Southeast Steuben County Library in your will, the following suggested language should be shared with your attorney:

“I give, devise and bequeath to the Southeast Steuben County Library, 300 Nasser Civic Center Plaza, Corning NY 14830, the sum of $_______ (or otherwise describe the gift or specify a percentage of the estate) to be used for its general purposes.”

Life Insurance

Many people have existing life insurance policies that were purchased when they had young children that are no longer important to their families’ financial security. A donor can simply change the beneficiary of such a policy to the Library.

For more information about these gift-giving opportunities, call the Library at (607) 936-3713 and ask for Pauline Emery.

Donate Stocks or Securities

Many individuals enjoy significant gains in their stock and other investment portfolios. If you own stocks, bonds or mutual funds that have appreciated in value, you have a unique opportunity to realize extra tax savings by making an outright gift.

First, you would earn a federal income tax deduction for the full fair market value of the securities as long as you have owned them for longer than one year. Second, you would avoid all of the capital gains tax that would be due on the sale of the securities.

Here is an example:

John has committed to making a sizable gift to help the Southeast Steuben County Library. He owns $20,000 worth of stock that he purchased 10 years ago for $10,000. If John sold the stock, he would realize a capital gain of $10,000. Listed below are two ways of making his gift.

By donating the stock directly to the Southeast Steuben County Library, John would completely avoid all capital gains tax and would realize larger net tax savings. Your personal financial situation is unique. You should discuss your estate plans with your family and your financial and legal advisers before making any charitable gift.

For more information call the Library at (607) 936-3713 and ask for Pauline Emery.