Changing the world just became easier with planned giving and the Warren-Newport Public Library Legacy Society.
Unlike an annual gift, a planned gift is scheduled for the future – often as part of financial or estate plans. Typically donated through a will or trust, planned gifts are realized after a donor passes away and often coordinated with professional advisors, attorneys and nonprofit organizations.
Join the Warren-Newport Public Library Legacy Society simply by remembering the library in your will. To learn more, contact the Library’s Development Department at development@wnpl.info or 847-244-5150, ext. 3059 or 3018.
What is planned giving?
Planned giving allows donors to support the Library after their death while meeting current income needs and providing for heirs. Planned giving is often done in connection with estate planning or will preparation and is a giving option for donors at all income levels. While its primary purpose is to help the charitable cause of your choice, its secondary purpose may be for you and your family to enjoy the personal financial and tax saving benefits that certain plans can provide.
What is the WNPL Legacy Society?
In general, the Legacy Society is made up of people who love Warren-Newport Public Library, have a great sense of community, and appreciate all that Warren-Newport Public Library does to sustain and improve our quality of life. Society members are all those who have remembered the Library in their will as well as all those who have made significant lifetime donations of $5,000 or more.
How do I join?
Simply name the Warren-Newport Public Library as a beneficiary in your will, either by a percentage or a specific amount. To join the Legacy Society, simply inform us that you have made arrangements to leave a legacy gift by naming Warren-Newport Public Library as a charitable beneficiary of your will.
How much does it cost to join?
There is no minimum gift requirement. You can make a bequest for any amount.
How do I include Warren-Newport Public Library in my will?
This is an example of bequest language that could be used. Please consult with an attorney or trusted advisor for any questions regarding specific language for your individual situation.
“I give the amount of $ (or ___ percent of the residue of my estate) to Warren-Newport Public Library District, a non-profit institution located in Gurnee, Illinois, for general purposes.“
How will I be recognized?
- Society members will be listed in the library newsletter.
- Society members will be invited to special events at the Library.
- Society members will receive a special keepsake to show their dedication to and support of the Library.
What if I want to remain anonymous?
As with all library giving, donors may choose to remain anonymous if they wish. In addition, the disclosure of the value of the planned gift is not required
Are there tax advantages for becoming a Legacy Society member?
Quite possibly. As with all matters concerning estate planning, please consult your estate and tax specialists.
What other benefits are there?
The knowledge that you are making a difference for future generations of library users.