Portneuf District Library Foundation
What is the Foundation?
A library foundation is a separate legal entity formed for the purpose of enhancing and expanding library programs and services. Its primary function is to secure financial and in-kind donations for programs, services, collections, and capital projects. The foundation offers donors a familiar and reliable vehicle for tax-deductible contributions in support of the library.
Who Can Serve on the Foundation?
Anyone! Unlike with a library board where the members must be district residents, anyone who wants to help support the library can serve on the library board!
What are the Benefits of Serving on the Foundation?
-You have a say in how the money raised is spent. If you think that providing manipulatives for children is the most important thing the library can do, then you can have your voice heard when the money is being allocated.
What Does the Foundation Do?
Grant Eligibility – Foundations have the advantage of being eligible for grants for which public libraries may not qualify. Most grantors require that recipients be qualified 501(c)(3) nonprofit organizations. Also, many major grantors have a policy against funding tax-supported institutions, but will provide grants to foundations.
• Sponsorships and Partnerships – Finding the right partner for your project is an art, and many companies like to be associated with the types of programs created by libraries.
• Planned Giving Opportunities – Planned giving is a way for donors to make gifts to an organization and receive financial and tax benefits. There are many options including Charitable Gift Annuities, Deferred Gift Annuities, Pooled Income Funds, Charitable Remainder Trusts, Charitable Lead Trusts, and the most common, Bequests. Retirement assets (including IRAs, annuities, pension plans, etc.) make a wonderful gift, because they pass tax-free to your library foundation.
• Cash, Stocks, Real Estate, and Life Insurance – Foundations can accept gifts for restricted and unrestricted purposes, providing donors a tax exemption (to extent qualified by law).
• Endowments – Gifts to create endowed funds are invested and only the income is spent on library needs. Endowments may be restricted by the donor, or available for spending on programs or other uses as needed.
• Investment Opportunities – Foundations have the flexibility to invest their funds to maximize the benefit for the foundation and, eventually, the library. Investment options available to public agencies are usually much more restrictive.
• Community Support and Confidence – When people give to a foundation they know that their gifts will be used as intended. Gifts may be restricted, making the giving even more appealing. For example, specified uses may include collections, branches, reading programs, etc.
What Do We Have Planned in 2019?
Meet Our Members!
Lindsey Williams, President
Q: Why is the Foundation Important?
A: The Foundation’s support of the library gives the library the freedom to do those little extra things which make the library the wonderful place it is. I love the library and the people who work there. Anything we can do to help support this amazing place is worth any effort involved!
Jennifer Egbert, Treasurer
Q: What is your favorite thing about the Foundation?
A: I love the library and how family friendly it is. The library has the friendliest staff, the best programs and activities, and the staff makes everyone feel like they matter. Therefore, my favorite thing about the foundation is the opportunity it provides me to try to give a little bit back and help keep the Portneuf District Library the best library there is!