WAYS TO GIVE TO THE COHASSET LIBRARY TRUST, INC.
All gifts to the Cohasset Library Trust, Inc., a 501©(3) corporation, are tax-deductible. Gifts of all sizes to the Cohasset Library Trust are very welcome and will be acknowledged and added to the library’s endowment.
Endowment Donor Wall
Public recognition of a gift to the Cohasset Library Trust is a wonderful way to memorialize someone who is deceased or to honor someone you respect and admire—or as a gift to “someone who has everything.” A minimum gift of $5,000 will enable the donor to name a fund and add their own name or another person’s to the Endowment Donor Wall in the entry way to the library. Gifts are listed on the Donor Wall at different giving levels:
gifts of $5,000 to $9,999 are Donors;
gifts of $10,000 to $24,000 are Sponsors;
gifts of $25,000 to $49,999 are Benefactors;
gifts of $50,000 to $99,000 are Patrons; and
gifts of $100,000 and over are Philanthropists.
Pledges to create a named fund may be paid over three years.
Gifts of Cash
Checks may be written to Cohasset Library Trust, Inc. and mailed to the Cohasset Library Trust at 35 Ripley Road, Cohasset, MA 02025
Gifts of Stock
Many people find giving securities that have increased in value since their original purchase is an attractive way to make a gift to the Cohasset Library Trust. By giving the stock directly to the Library Trust, either by wire or by mailing the stock certificates, the donor is credited with a tax-deductible gift equal to the market value of the stock and does not have to pay a capital gains tax on the difference between the stock’s original purchase price and the current market value. For example, $1,000 of stock bought in 1992, now worth $10,000, can be given to the Library Trust with the donor receiving a $10,000 tax deduction for the current year, without having paid capital gains. If a gift of stock is planned, please telephone Linda Litchfield, Treasurer, at 781-383-4102 for details regarding the transaction.
A Planned Gift
Most gifts to the library’s endowment made in the 20th century were bequests—that is gifts specified in the donor’s will. It is still an excellent way to support Cohasset’s library. Please think of making a gift to the Cohasset Library Trust in your will when you are next talking to your attorney about your estate planning.
Other kinds of planned gifts that are attractive are
- Naming the Cohasset Library Trust, Inc. as a beneficiary of your life insurance policy;
- Naming the Cohasset Library Trust, Inc. as a beneficiary of your retirement plan assets, such as an IRA or 401 (k); and/or
- Establishing a charitable trust benefiting the Cohasset Library Trust, Inc.