Long Beach Public Library Foundation

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.

Jane Bradley
.
Margaret Brenneman
.
Charles and Margaret Durnin
.
Doris Glyseth
.
Jean and Charles Lane
.
Constant B. Sims
.
Ken Slaybaugh
.
Leo Vander Lans

 

GIFTS TO THE LIBRARY FOUNDATION ENDOWMENTS:
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:

LEARNING CENTERS:
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 funds:

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 Center Endowment 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 named funds:

The Gutenberg Society Endowment - General Book Selections

Kenneth Slaybaugh Endowment Fund - Children's Books

LONG BEACH PUBLIC LIBRARY FOUNDATION ENDOWMENT:
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, RESTRICTED USE:
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 estate."

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 the library.

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.