Planned giving enables you to support The Public Library of Cincinnati and Hamilton County Foundation more efficiently, provide financial benefits to you and your family, and choose the areas and programs you want to benefit from your gift. Planned gifts to the Library can take the following forms:
- Bequests (gifts) by will or living trusts
- Gifts of appreciated property:
- Stocks, bonds, and mutual funds
- Real estate
- Interests in businesses
- Art
- Collectibles
- Patents and copyrights
- Life income gifts:
- Charitable gift annuities
- Charitable remainder annuity trusts
- Charitable remainder unitrusts
- Lead trusts
- Gifts of retirement assets
- Gifts of life insurance
Planned gifts often save taxes in multiple ways. For example, gifts of stocks, bonds, mutual funds, real estate, art, or other property often eliminate capital gains taxes and provide a current income tax charitable deduction. Bequests in wills or living trusts often save gift and estate taxes.
For a number of donors, gift planning serves to generate a dependable source of lifetime income. Gift annuities pay a fixed rate of return—often much higher than bank interest rates—for life. Charitable remainder trusts can provide more flexibility than gift annuities, enabling you to opt for lifetime income streams that can grow over time. Also, charitable remainder trusts can be tailored to supplement your retirement funds by delaying substantial income payments until a set future date. Charitable remainder trusts and gift annuities can be funded with cash or property.
For donors who have sufficient income, a “lead” trust—which pays income to the Library for life or a fixed term of years, and then pays the principal to children or other beneficiaries—can be an excellent way to transfer assets to children or others at a future date. In many cases, through a lead trust you can transfer the assets free of estate and gift taxes.
In short, planned giving offers ways for you to substantially increase your support of the Library Foundation and achieve your financial goals and family objectives at the same time. Please contact the Development office for more details.
John Reusing, Development Director
The Public Library of Cincinnati and Hamilton County
800 Vine Street
Cincinnati, OH 45202-2009
513-369-4591
