Giving Later

SMART DONATIONS THAT LAST BEYOND YOUR LIFETIME

Join the Silas Pinney Legacy Society

What Does “Giving Later” Mean?
Giving later, or legacy giving, is leaving a gift to the foundation that will sustain the library beyond your lifetime. Legacy gifts are a wonderful way for someone who loves the library to make a high-impact contribution. Some gifts are simple, like leaving estate proceeds in a will or trust, or making a stock gift during your lifetime. Other gifts take a bit more planning and expertise, like a charitable gift annuity or a gift of life insurance, real estate or tangible personal property.

Foundation staff is here to help, and while we cannot provide tax or legal advice, we can work with you, your family and your professional advisors to carry out your vision. Giving later helps the foundation: 

  • Enhance educational programs
  • Build collections
  • Support staff
  • Improve facilities
  • Invest in the endowment to ensure the future livelihood of our libraries

View and print our long-term giving brochure or read on to discover the value of leaving a gift, and scroll down for stories about donors who are leaving a gift to the foundation.

Legacy Gift Benefits

  • Reducing or eliminating gift, estate and capital gains taxes
  • Increased income and effective rate of return
  • Leaving a legacy without giving up assets

What Will My Gift Fund?
Gifts may be given “restricted” or “unrestricted.” Unrestricted, planned gifts to the foundation are invested in a permanent endowment at Madison Community Foundation. Each year, distributions from the endowment are used to support foundation operations, grants, program investments and more. Some donors prefer to restrict their gift for a designated neighborhood library or toward a particular area or program like collections, technology or the Wisconsin Book Festival. Call the foundation office at 608.266.6318 if you wish to designate your gift in a particular way.

Silas Pinney Legacy Society

The Silas Pinney Legacy Society recognizes and honors those who leave a gift to Madison Public Library Foundation. Mayor Silas Pinney was credited with the founding of Madison’s first free library in 1875, which was originally housed in City Hall.   

It’s easy to become a Silas Pinney Legacy Society member: Commit to a legacy gift that makes a long-term difference in Madison’s public libraries.

Please let us know of your intention to make a planned gift. If you’re making a bequest in your will, the following language may be added to demonstrate your intention:

“I leave [the sum of ____ dollars], [all or ____ percent of the remainder of my estate] to the nonprofit Madison Public Library Foundation, Inc., in Madison, Wisconsin (tax ID #391777242), to be used for [choose one] the benefit of all Madison public libraries; ____ Library; ____ Endowment Fund; or a special purpose ____.”

Giving Later Stories

Libraries connect with a lot of my values, and what touches me about the importance of community gathering places. I feel they are a truly vital asset for the residents of the city.”

—  Dick Goldberg,
Silas Pinney Legacy Society member

 

“It was easy to name Madison Public Library Foundation a beneficiary of my IRA account.  My future gift will be for endowment so that its annual earnings help the library every year for a very long time. That’s the kind of legacy I want to leave.”

—  Nancy McGill,
Silas Pinney Legacy Society member