Kraemer Library & Community Center Gift Policy

Objective

To encourage gifts of library materials, money or real property that will enhance and expand library services beyond the limits of normal municipal funding.

 

A Public/Private Partnership

The library is supported by the Village of Plain and Sauk County, and private funds.

Since 1964, private funding has supplemented municipal appropriations. Private

funding purchased the current library site and built the 2002 library. Private donors have contributed library materials and thousands of dollars toward special collections, children’s programming, new collections and services, memorial gifts, landscaping, special equipment, etc.

 

Library Board Control

By state law, the seven citizen volunteer members of the library board receive, manage and dispose of gifts and donations made to the library.

 

Gifts Accepted

1. New/Used books and media.

2. Cash, securities, or real property subject to Library Board Approval.

3. A bequest (in a will) to the Kraemer Public Library.

4. A gift of life insurance.

5. A charitable remainder or living trust from which you or another beneficiary may

receive income during a defined period of time (or a lifetime) with a provision

that the trust assets become the property of the library thereafter.

 

Gift Fund Policy

Gift funds shall, in general, be for special projects, programs, or resources, and for start-up funds and building enhancements, that supplement and do not replace regular municipal operating or capital improvement budget appropriations. There shall be no restriction placed on library gifts. Gifts may be utilized, sold or disposed of in the best interest of the library. The library reserves the right to refuse any gift.

 

 

Tax Benefits

A gift to the gift fund may provide substantial tax savings to the donor (please

consult with an attorney or accountant):

1. Savings in income taxes by current gifts of cash or property.

2. Savings in inheritance and gift taxes by testamentary trusts or gifts of living

trusts.

3. Savings in capital gains tax when gifts of appreciated securities or other

property are donated.

4. All gifts are tax deductible and the library will furnish a receipt if asked for tax purposes.

 

 

 

Donor Wall

Monetary donations listed below are acknowledged on the appropriate plaque on the donor wall. Contribution levels are subject to change.

 

$25,000 - $100,000 Benefactors

$10,000 - $24,999 Patrons

$ 5,000 - $ 9,999 Friends

$ 1,000 - $ 4,999 Donors

$ 500 - $ 999 Supporters

 

Specific Use

1. The donor may designate the specific purpose for which the gifts, or the

earnings from the gift, are to be used from a list of opportunities provided subject to Library Board approval.

2. Donations to an endowment (the principal must remain intact and only the

income may be spent) are gladly accepted.

3. Undesignated gifts enable the library board to use the funds in the manner

most beneficial for current, as well as long-term, needs.

 

Giving Opportunities

Memorial Books and Media- New books or other library material may be donated in honor of a friend or loved one and are marked with a special bookplate.  The library will be pleased to assist the donor with the selection of appropriate titles.

 

Book Sale Donations- Used books and other library material may be donated for the library’s collection.  Items not needed by the library are sold at a book sale sponsored by the Friends of the Kraemer Library.  All proceeds benefit the library.  The library does not accept textbooks, encyclopedia sets, Reader’s Digest Condensed Books, old magazines, or items in poor physical condition.  The library applies the same criteria for evaluating gift items as it applies to purchased materials.  Gifts will be withdrawn from the collection in the same manner as purchased materials.  The library does not accept responsibility for notifying donors of withdrawals.

 

Gift Fund- these funds are held locally and are used at the discretion of the Board to improve service where needed.

 

Community Room Fund- these funds support maintenance and improvements to the Community Room space.

 

Library Endowment Funds – In 2012 the Kraemer Library received an estate bequest and has invested a portion of the disbursement with the Madison Community Foundation.  Only the income generated annually from the principle may be spent to enhance the library. This insures the perpetuity of funds for library improvements.  The Library Board will earmark annual distributions each year for purposes which may include: programming, furnishings, and large-scale special building projects, building remodeling or improvement, an addition, or a new library, along with landscape improvements.

 

More information Further details may be obtained by contacting the Library Director at 608-546-4201 or by e-mail: askus@kraemerlibrary.org.

Approved September 30, 2013