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Campaign |
Endowment Funds The Kindness of Strangers... You've probably heard the phrase, "never judge a book by its cover." This phrase couldn't be more appropriate to describe David A. Taggart. Mr. Taggart was a loner with no family or friends other than his apartment manager and the people who worked at his usual restaurant. He lived in an $80 a month apartment and didn't have any possessions that offered any insight into his past. With the appearance of a pauper no one would have ever expected Mr. Taggart to name the Library as the beneficiary of a $40,000 bequest. It was that planned gift in 1985 that allowed the Library to start the first endowment fund which has grown into several funds which total more than $5 million. What is an Endowment? An endowment fund works like a permanent savings account. The amount you give, which is the principal, is never spent. Only the earnings are spent for the purposes that you designate. The continuing goal of growing the endowment has been a successful one. David Taggart's initial planned gift of $40,000 has grown to over $5 million today! Why are the Library’s endowment funds so important? The Library's endowment earnings are divided among various funds to provide support for book collections and enhanced programming such as Summer Reading and Books-To-Go. Some endowment funds have been restricted to fund certain programs that are offered by the Library which make it possible for the donor to specify how they want their donation to be used. The Library endowment funds include:
Is it possible to designate a gift to a specific endowment? Yes! All donors are welcome to direct Library staff on how they want their money to be spent. A gift of $10,000 or more would allow the donor to name an endowment of their own. How can you help the endowment grow? Depending on the type of gift you would like to make, the Kansas City Public Library is equipped to accept gifts of cash, stock, annuities, and real estate. In addition, the Library has partnered with The Greater Kansas City Community Foundation to provide free financial planning seminars to help assist individuals with planned gifts such as naming the Library as a bequest in their Will or donating stocks or annuities. Deciding to make a gift to the Library is an important one. Please contact Diana Reiter, Director of Marketing and Development, at (816) 701-3520 or dianareiter@kclibrary.org, or a member of the Development staff to inquire about making an endowment contribution or planned gift to the Library. You may call: (816) 701-3523 and any member of the Development staff will be more than happy to discuss giving opportunities with you. The Library is an important part of the community. Your support will make a difference in the quality of services and programs that the Library offers to folks like you on a daily basis. In addition, your generosity demonstrates your commitment to the intellectual and cultural health of the Kansas City community.
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