A vital resource since 1931, residents have referred to the Lake Forest Library as “the community’s living room.”
Endowment gifts are a wonderful way to create an everlasting legacy. Endowed funds are invested strategically to preserve their original value and generate income to support the Library’s work for generations to come.
Goal: Raise $1 million by the end of 2023
Purpose: To create an endowment that can be built upon in the future. The endowment fund is intended to support, not supplant the funding from taxpayers and the Friends. With an annual payout of up to 5% of the net earnings of the Endowment Fund, the library will have an additional income source to help fund the operating, program, and capital needs of our library and help continue to serve our community now and into the future.
A Planned Gift can be made by designating the Lake Forest Library Foundation as a beneficiary in your will (bequests), retirement asset (401k, etc.), or life insurance. When you make a planned gift to the Lake Forest Library Foundation, you are making a statement that you view the Library as an integral part of our community and want to sustain it for future generations. By donating all or a percentage of your assets to the Lake Forest Library Foundation, you establish a legacy that will be celebrated. There may also be significant tax incentives for establishing your legacy in this manner. Your tax advisor can advise you properly. Additionally, you might refer to the sample language below when preparing your will:
Sample Language: I give to the Lake Forest Library Foundation, a 501(c)3 nonprofit organization, the sum of $______ or ___ percent of estate to be designated for distribution to the Lake Forest Library.
For more information from the Foundation, please contact us at email@example.com.