LEGACY SOCIETY DONORS:
The Living Legacy Society was established in 1999 to honor the remarkable and generous Long Beach Public Library Foundation donors who support the Endowment Fund through their estates.
This prestigious society recognizes and gives tribute to those Long Beach Public Library friends who have either funded or planned a deferred gift, such as a bequest or a life income plan,
benefiting the Long Beach Public Library Foundation.
Charles and Margaret Durnin
Jean and Charles Lane
Constant B. Sims
Leo Vander Lans
GIFTS TO THE LIBRARY FOUNDATION
The LBPLF has worked closely
with the Library to set up three focus areas for endowment gifts that best
address the long-term needs of the Long Beach Public Library (Library). A
donor may permanently restrict a gift so that the principal will be preserved in
perpetuity. When a gift is permanently restricted in an endowment, the
LBPLF may only spend a portion of the earned interest to help fund a specific
program or purpose each year. Descriptions of the three endowment focus
areas are below:
Located in each of the twelve Long Beach libraries, the Learning Centers
are an award-winning model program that provides families with safe environments
to receive free, valuable assistance with homework, language, reading and job
searches from specially trained, bilingual Learning Guides.
Families can access computers, printers and educational software set aside
especially for them. The program receives over 44,000 visitations a year
and is considered by librarians to be a core library service.
The Long Beach Public Library Foundation Learning
Center Endowment includes the following generous named individual endowment
Durnin Learning Center Endowment Fund
Vander Lans Learning Center Endowment Fund
Constant B. Sims Learning Center Endowment Fund
Mark Twain Learning Center Endowment Fund
Interest from these named funds and the main Learning
fund help provide financial support for the Learning Centers including
support for Learning Guides, computer leases, software and material costs.
BOOKS AND MATERIALS:
The LBPLF also has endowments created for the purpose of purchasing desperately
needed books and materials to supplement the Library's collection each year.
As city and state budgets continue to face cuts, and the price of high quality
books, audio books, and materials continues to increase, these endowments give
the Library an opportunity to expand the collection and choose titles that will
fulfill patrons' needs. This Endowment includes the following individually
The Gutenberg Society Endowment - General Book
Kenneth Slaybaugh Endowment Fund - Children's Books
LONG BEACH PUBLIC LIBRARY
The LBPLF's general endowment is a
wonderful way to ensure that the LBPLF continues to have a strong financial base
of support in the future and will continue its mission to support for the
Library. Without the LBPLF to serve as the nonprofit entity to accept
gifts on the Library's behalf, these gifts would be at the mercy of the city
budgets and risk being co-mingled in the general fund. The LBPLF ensures
that private support goes directly to the Library and helps build a quality
library that a city of our size deserves.
NAMED ENDOWMENT FUNDS:A donor may
make a gift of any amount to any of the existing Endowment Funds at any time.
A donor may also create a specially named Endowment Fund in honor of a specific
person or family within one of the three purposes listed: Learning
Centers, Books and Materials and Foundation Support. The minimum gift to
begin a specially named Endowment Fund is $25,000 and a donor may pay this
amount over a period of up to five years.
GIFTS FOR A SPECIFIC,
If you have a special interest in a specific
Long Beach branch library, collection, or genre and would like to specifically
restrict your gift to support the Long Beach Public Library in a specified way,
other than those listed in this guide, we can work with you and the Library to
ensure your intentions can be met.
LEGAL WORDING FOR WILLS AND ESTATE GIFTS:
The suggested legal wording for any gift a
donor wishes to leave in an estate or will is listed below.
"I hereby give to the Long Beach Public Library
Foundation, a California not-for-profit corporation, with its principal place of
business in Long Beach, California:
The sum of $________________ [amount] AND/OR
The following described property:
________________ [description] AND/OR
________% [percent] of the residue of my
After this statement, you would add your intentions.
For example, "I wish this gift to be added to the Learning Center
Endowment," or "I leave the use of this gift to the discretion of the
Foundation's governing board."
In all cases, the Long Beach Public Library Foundation will
act as the beneficiary, and assume responsibility for all correspondence and
cooperation with your trust officer or executor, track communications, manage
and record the financial records, invest the funds and ensure distribution to
OTHER ESTATE GIFT OPTIONS:
There are also additional creative gift options for a
planned gift to benefit the Library that can provide additional current income
or special tax benefits. For example, a Charitable Gift Annuity could
provide income to a donor for the remainder of the donor's (or other
beneficiary's) life, and ensure the Library will be the ultimate beneficiary of
the generous gift one the donor passes. Please don't hesitate to contact
us regarding additional gift methods.