By leaving a legacy gift to the Bozeman Library Friends and Foundation, you will provide the Library with a critical source of long-term funding that will benefit our community well into its future.
There are a number of ways to make a legacy gift, including: Wills and Trusts, our Annual Gift Forever program, Gifts that Guarantee Lifetime Payments, Gifts by Beneficiary Designation, and IRA.
The process for leaving a legacy gift can be as simple as including bequest language in a will or trust.
Below is sample bequest language that might be used to designate a fixed sum or percentage of your assets to the Foundation:
“I give to the Bozeman Library Friends and Foundation, a nonprofit corporation, 626 East Main; Bozeman, MT 59715 (Federal Tax Identification Number #81-0405940) the amount of $_______ or ______% of the residue of my estate.”
Would you like to help your Library thrive decades from now? How about in a century?
You can make a lasting impact on your community by designating a legacy gift to the Bozeman Public Library’s Annual Gift Forever program. Your charitable bequest of cash, securities, or other assets, of any value, to our Annual Giving Forever program will ensure ongoing Library funding for generations to come.
You leave a charitable bequest of cash, securities, or other assets to the Friends and Foundation’s qualified endowment. Similar to a traditional endowment, your gift and those of others is invested. The interest on those investments can be drawn upon, but the original gift amount remains in the fund as a source of interest well into the future. You can also create your own named endowed fund with a gift of at least $50,000.
To participate in the Annual Gift Forever program, all we need from you is confirmation that you’ve included our qualified endowment endowment in your estate plans. If you are willing to share an estimate of the amount, it will help us plan for the future, but it’s not required. We can provide you with bequest language and will keep a copy of your bequest on file to make sure your wishes are honored. If you’re considering creating your own endowment, it’s equally powerful for your Library to have knowledge of those plans as it prepares for programs and services to meet our community’s changing needs.
We invite you to contact Janay Johnson at janay@supportbozemanlibrary.org or 406-582-2426.
We recommend you consult with your attorney or other advisors to make sure that the gift you choose makes sense as part of your overall estate plan.
Charitable Remainder Trust (CRT)
You transfer assets (usually cash, securities, or real estate) to a trustee of your choice through a formal trust agreement. Your trustee invests the trust assets and makes annual payments to you and/or a loved one, based on the payout rate chosen by you. At your death or at the termination of the trust, the principal is distributed to the BLFF.
Charitable Lead Trust (CLT)
You transfer assets (usually cash or securities) to a trustee of your choice through a formal trust agreement. Your trustee invests the trust assets and makes annual income payments to the Foundation. At termination, the trust distributes all assets, including any appreciation, to your heirs.
Making a gift to the BLFF by beneficiary designation from a Transfer on Death (TOD) account is a simple and tax-efficient way to fund your legacy and avoid the probate process. To include the BLFF, simply contact a representative of the institution that manages your account or policy and request a “change of beneficiary form.” This applies to:
Making a Qualified Charitable Distribution (QCD), a direct transfer of funds from your IRA custodian payable to a qualified charity, is a great way to support the Library. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year.
When the Library knows about intended gifts, it can plan with much more confidence for the future. The vast majority of Library programs and services beyond basic operations are funded by gifts from private individuals and family foundations. Knowledge about the legacy plans of our donor community helps the Library lay the groundwork for improving existing programs and building new opportunities for our community.
If you have already included the Foundation in your estate plan, we humbly thank you. We hope you will let us know by completing this form. We want to share our gratitude, learn how you would like to be recognized for this gift, and let you know your Library’s vision for the future.
We invite you to contact Janay Johnson at janay@supportbozemanlibrary.org or 406-582-2426.
We recommend you consult with your attorney or other advisors to make sure that the gift you choose makes sense as part of your overall estate plan.
