The Illinois Library Association (ILA) includes personal and organizational members from academic, public, school and special libraries. ILA provides invaluable conferences, training, and networking for librarians, support staff, and trustees. There are many ways you can provide a living legacy to help support ILA for future generations of association members:
Contact Executive Director Cynthia Robinson if you're interested one of these opportunities.
Making Planned Gifts to ILA
There are a number of options for planned or deferred giving that allow you to make a significant contribution to the future of library service in Illinois. Depending on individual circumstances, a planned gift may enable you to reduce income, gift, and estate taxes or reduce or eliminate capital gains taxes. Talk with an attorney, accountant, or financial advisor to determine which types of planned giving are best suited to your financial goals.
The most common way to make such a gift is through a bequest in your will or trust. It can be as simple as:
I give, devise and bequeath to the Illinois Library Association, 560 W Washington Blvd., Suite 330, Chicago, IL 60661, the sum of $____________.
Authorizing IRA Qualified Charitable Distribution (QCD) Gifts
If you are 70 ½ years or older, you can authorize your IRA administrator to directly make a qualified charitable distribution (QCD) of up to $105,000 from your IRA to a qualified 501(c )(3) (like the Illinois Library Association) tax-free.
Giving Retirement Assets to ILA
Designating ILA as a beneficiary of a traditional IRA, a life insurance policy, annuity, or pension plan helps support ILA’s future efforts, and passes tax-free to the Association. Gifts can be made during your lifetime or upon death.
Transferring Appreciated Stocks & Securities to ILA
A gift of long-term appreciated stocks or other securities may provide you with greater tax advantages than a gift of cash. You may deduct the current fair market value of the stock on the date of giving as a charitable gift and avoid any capital gains tax on the stock's appreciation value.
Making a Gift to ILA through a Donor Advised Fund
If you have created a Donor Advised Fund (DAF), you can conveniently advise your DAF administrator to make a gift to ILA. Please be sure to share our legal name, address and federal tax ID number with your DAF administrator: Illinois Library Association, 560 W Washington Blvd., Suite 330, Chicago, IL 60661. FEIN: ________________________
Matching Gift Programs
Librarians who work for corporate libraries (or who have spouses who work for corporations) or trustees or friends of ILA who work for a corporation are urged to investigate matching gift opportunities. Contact the human resources department for information and appropriate forms.
Gift Solicitation
Members are encouraged to refer names of corporate or other prospective donors to the ILA Fundraising Committee for coordinated follow-up.
Fund for Illinois Libraries
The Fund for Illinois Libraries was created in 1990 to help Illinois libraries in their fundraising efforts. Libraries often solicit funds from the general public, businesses, or foundations. In some cases, donors are permitted to give only to organizations holding IRS 501(c)(3) tax-exempt status. For many libraries, this means foregoing a gift, as the time, effort, and costs of establishing and maintaining 501(c)(3) status are prohibitive. The Fund for Illinois Libraries can serve as a fiscal agent, helping make it possible to receive the gift, without having to invest the time, effort and cost of establishing and maintaining a 501(c)(3) organization.
Other Gift Options
ILA welcomes contributions of a variety of types of appreciated assets such as securities, life insurance, U.S. saving bonds, annuity contracts, and personal property such as real estate.
Contact Executive Director Cynthia Robinson for more information about any of these opportunities.
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