Become a Sustaining Member
Donors can set up automated monthly donations to be deducted directly from their debit card, credit card or PayPal account. CLICK HERE, enter monthly donation amount and click (or check) the box stating "Make This A Monthly Donation."
IRA Direct Transfer
Donors age 70 1/2 and up can direct money be transferred directly from their IRA to a qualified charity such as the Library and Park. That amount does count towards the donor's minimum distribution, but no federal income tax is due on the distribution. This is a unique, tax-wise way to support Westerly Library and Wilcox Park.
Donating Securities
Gifts of stocks or mutual funds are welcome. Donors who donate securities that have been held for more than one year will generally receive a charitable tax deduction for the full fair market value of the securities, and avoid capital gains taxes on the appreciation of the assets over their original cost bases. Please be sure to consult with your financial or tax advisor for specific tax information when giving securities.
Memorial & Celebration Books
Many people like to donate money to purchase books to celebrate special birthdays or to honor the death of friends and family members. The person’s name is placed on a bookplate with an appropriate message.
Join Our Planned Giving Society
Through planned giving, you are able to balance your personal financial goals and your charitable interests. Various types of planned gifts are possible. Your best source of information and advice is, of course, your own attorney, financial planner or a trust officer of your bank. Donors who choose to leave a gift to Westerly Library & Wilcox Park through a personal planned giving program become members of The Wilcox Society. Named for our founders, Stephen and Harriet Wilcox, The Wilcox Society is a very special group of individuals who understand the importance of preserving, developing, and maintaining a free publicly accessible library and park for future generations.
Bequests
You can make a gift to the Association through a provision in your will or a codicil to your will, or in a revocable (“living”) trust. You can designate a specific amount of money, a percentage of your estate or the balance of your estate after your other designated gifts are paid. A bequest in your will or revocable trust enables you to make a gift to the Association at your passing, while retaining full control of your assets throughout your life.
Life Insurance
A life insurance policy allows you to make a meaningful gift while preserving other assets for yourself and your family. You can designate the Association as the beneficiary of all or part of the proceeds of your life insurance policy. As in the case of a bequest in a will or revocable trust, a beneficiary designation allows you to continue to retain control of the policy during your lifetime. Alternatively, if your policy is paid-up, it can be a charitable asset, which you can donate to the Association.
Retirement Plans
Retirement assets can be a tax-efficient way to support Westerly Library & Wilcox Park. You can name the Association as the beneficiary of all or part of your pension plan, IRA, Keogh Plan, 401(k) Plan or 403(b) Plan.
Charitable Remainder Trusts
To set up a charitable remainder trust, the donor transfers assets, such as cash, securities or real estate, to a trust created by the donor and held by a third party trustee. The trust pays the donor, or his/her spouse or other non-charitable beneficiary, an income for life or for a term of years. Upon the death of the last income beneficiary or the expiration of the term of years, the trust ends and the principal would pass to the Association.
Donor-Advised Funds
Donor-advised funds (DAFs) enable the donor to make a tax-deductible donation to a tax-exempt fund managed by a financial organization and establishes his/her own “fund” (the DAF) within the larger fund. The donor determines how he/she wants the funds in the DAF to be invested before being paid out as grants to a charitable organization(s), which organization(s) the funds in the DAF will support and when the grants from the DAF are to be made.
As the creator of your DAF, you can designate the Association to receive periodic grants from your fund in an amount you specify; you can also designate the Association to receive all or a portion of the funds remaining in your DAF upon your death.
For more information contact Stacey Jackson, Director of Development, at (401) 596-2877 extension 322 or sjackson@westerlylibrary.org.
