Endowment and planned giving
All Library locations will be closed on Monday, May 30, for Memorial Day.
Gifts to the endowment fund assure long-term innovation and excellence in Library services for our community, especially during difficult times. Only a portion of the fund's earnings may be spent each year in order to insure continual growth of the endowment over time. In addition to the general endowment, donors also have the option of contributing to one of these more restricted funds:
- Missouri Valley Special Collections “ supports expansion and continued preservation of historical archives and records of our rich regional heritage
- Library Preservation Fund “ supports the integrity of the restored Central Library building as well as enhancements for each of our nine branch libraries
- Children's Book Fund “ supports both classic and popular collections, early literacy and programs for our youngest patrons
Here are just some of the gift planning options to consider:
Bequests through a will or trust
People from every walk of life create meaningful legacies through bequests. Simply include this language in your will or trust:
“I, [your name], of [city, state, zip] give, devise and bequeath to The Kansas City Public Library Foundation [a percentage of the estate, a dollar amount, or a description of property] for its unrestricted use and purpose.”
You may wish to direct your gift more specifically, for example:
- “… where the need is greatest.”
- “…for children’s library services and programs.”
- “…for Missouri Valley regional historical collections.”
Retirement plans, savings and checking accounts, CDs, brokerage accounts, life insurance policies
You may name the Kansas City Public Library Foundation as a beneficiary of any of these assets. You may name the Library as a beneficiary of a new or existing life insurance policy. Naming the Library Foundation as both owner and beneficiary of a life insurance policy offers added tax benefits.
In exchange for a gift of cash, stock or securities, you and one or two other annuitants receive a fixed, guaranteed income. Upon death, or the death of your survivor, the gift remainder supports the Library.
Charitable remainder annuity trust
You or others you name receive a set annual income for a specified term or for life. The remaining assets then support the Library.
A gift of land, a house or a vacation home results in a tax deduction. Through a Retained Life Estate plan, you may deed your home or farm to the Foundation and yet continue to reside in and maintain the property for your lifetime.
Many estate planning vehicles exist to benefit both the donor and the causes most meaningful to you. To learn more about estate giving plans and benefits, please visit Leave a Legacy.
Donors are strongly encouraged to consult with your professional tax adviser, financial planner or estate planning attorney before making a planned gift. Kansas City Public Library Foundation staff have access to estate planning professionals who could work with you to identify the best ways to achieve your philanthropic goals and at the same time assure that you and your family have the resources to meet your needs and aspirations.
Legal designation for the Library
The Kansas City Public Library and the Kansas City Public Library Foundation are both tax exempt not-for-profit organizations. Gifts are tax deductible under section 501(c)(3) of the Internal Revenue Code. For the Library to benefit from a bequest or other estate gift, please name the Library as: Kansas City Public Library Foundation, 14 West 10th Street, Kansas City, Missouri 64105. The Foundation was incorporated under the laws of the State of Missouri on September 20, 2005. The Kansas City Public Library Foundation’s Tax Identification number is 20-3506595.