Leave a Legacy
Planning your estate is a terrific way to make a lasting contribution to the DC Library while taking advantage of favorable federal and state tax laws. Your gift can reduce your income taxes including capital gains, and reduce transfer taxes including gift and estate.
Ways of Planned Giving:
- Bequests: Leave the Foundation a gift through your will or revocable living trust.
- Name the Foundation as Beneficiary: Designate the Foundation as a beneficiary of your bank account, retirement and pension plan, insurance policy, or other financial account.
Bequests
By including the Foundation in your will or estate plan, you can help ensure that the libraries will always have the resources to strengthen the DC community. Major bequests have already help the Foundation provide funding for such critical areas as technology improvement and literacy programs for children and youth--like Summer Quest and Holla' Back. Your gift will help the Foundation build its capacity to serve the DC Public Library.Types of Bequests
There are several types of bequests that allow you to designate your estate in accordance with your financial and charitable goals.
General BequestNaming the Foundation as a Beneficiary in Your Estate Plan*
You can name DCPL as a beneficiary in your will, retirement plan, insurance policy, or financial account (like a bank account or brokerage account).
Specific Bequest
You describe exactly what you want to leave to a family member or charity. If you want to leave a specific amount or if you have a particular item (such as an antique or collector's item) you would like to leave to someone, this is the type of bequest that you would use.
Residuary Bequest
This type of bequest is honored after all other bequests have been made, and all debts, expenses and taxes have been paid.
Contingent Bequest
This type of bequest is fulfilled if certain conditions are met. For instance, if your primary beneficiary does not survive you, you can indicate your next choice through a contingent designation.
If you decide to include the Foundation in your estate plan, the Foundation should be named as: District of Columbia Public Library Foundation, a nonprofit corporation, organized and existing under the laws of the District of Columbia, and with principal business address of 901 G Street, NW #400 • Washington, DC 20001-4599.
Our tax identification number is 52-1481008.
If you have a specific purpose in mind, please contact Anna Velazco, Executive Director at 202-727-4943. Before supporting a particular program, it is crucial to make sure that the Foundation understands and can fulfill your specific wishes.
*This information is provided for your reference only and is not intended as legal or financial advice. We strongly recommend you consult a qualified legal or financial advisor before making a bequest.