Benefits of a library foundation
The Library receives most of its operating revenue from local property taxes, grant and state tax money, and revenue from operations such as passport processing. To best serve our residents, we look for additional revenue sources wherever possible to lessen the burden on local taxpayers. The Ela Public Library Foundation can assist in this goal.
In addition, the Foundation enables the Library to apply for more grants. Most grantors require that recipients be qualified 501(c)(3) non-profit organizations, or they may have a policy against funding tax-supported institutions but will provide grants to foundations.
Ways to give
To donate via cash or check, please mail or bring in a completed donation form to the library's address:
Ela Public Library Foundation
275 Mohawk Trail
Lake Zurich, IL 60047
Consider planned giving opportunities, which enable you, as the donor, to receive financial and tax benefits.
- The most common way to make such a gift is through a bequest in your will or trust.
- Retirement assets (such as traditional IRAs, life insurance, annuities, pension plans, etc.) make a wonderful gift, because they pass tax-free to the Foundation.
- Those aged 70 ½ or older can direct their IRA administrator to make qualified charitable gifts to the Foundation which can reduce your income tax liability.
If you are interested in gifting shares (stocks, mutual funds, or other securities) directly, the Foundation Board of Directors is happy to work with you and your financial advisor.
Making a gift of your appreciated stocks to the Ela Public Library Foundation will provide you with a tax deduction for the value of the stock on the day of its transfer to the Foundation.
Stock donations may be made electronically, via registered mail, or hand delivered with an Irrevocable Stock/Bond Power and Letter of Direction.
Information needed for electronic transfer of stock:
Ela Public Library Foundation account
More information is found here
To speak with a member, please email email@example.com to schedule a meeting.
Contact the Foundation
If you have any questions or would like additional information, please contact the Foundation Board at firstname.lastname@example.org.