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Planned Giving

There are many ways to make charitable contributions to benefit the Indianapolis-Marion County Public Library Foundation ("Foundation") In addition to making a donation now, you also can choose to make a planned gift for the future. "Planned giving" includes several kinds of giving, ranging from leaving a bequest to the Foundation in your will to arrangements that provide some income for you during your lifetime.

Most people are familiar with a bequest (leaving money to the Foundation in your will), but some of the other types of planned gifts may be unfamiliar. Foundation staff can help you with the legal wording for a bequest of cash. You also can leave a gift of life insurance, retirement savings, stocks, real estate or other assets, as the following chart explains.



Form of Gift Advantage to Donor Advantage to Library Foundation How to Initiate
Bequests Through a Will or Trust Your estate will receive a charitable deduction, helping your heirs avoid taxes. Helps ensure future funding, supporting continued Library outreach.. An attorney can help you plan a bequest. For a simple unrestricted gift, we suggest the following wording in your will: "I give to the Indianapolis-Marion County Public Library Foundation, Inc., the sum of $ [insert amount] to be used in such manner as the Board of Directors of the Foundation shall determine." If you wish to restrict your gift for a specific purpose, please discuss this with the Library Foundation.
Retirement Plan Beneficiary (IRAs, etc.) The donor's estate receives a charitable deduction and heirs avoid income taxes. Enables the Foundation to have funds available for immediate use. Simply obtain a new beneficiary form and add the Foundation as the beneficiary.
Life Insurance Policies Donor receives a tax deduction and can also make a large future gift at a small present cost. The Foundation will receive the face value of the policy upon the insured's death. You can make the Library Foundation the owner and beneficiary, give a paid-up policy to the Foundation, or name the Library Foundation the beneficiary of the policy (but not the owner).
Gifts with Income to You These gifts will provide the donor a revenue stream as well as a tax deduction. For donors who have assets which have greatly appreciated in value (such as stocks), this form of giving helps avoid the capital gains tax. The Foundation will be ensured of future funding upon the death of the income holder when the remaining principle goes to the Foundation. Such gifts include pooled income funds, charitable remainder unitrusts, charitable remainder annuity trusts, and charitable gift annuities. Foundation staff, along with your attorney or financial planner, can advise you regarding the specific advantages and how to set one up.


Planned gifts create a legacy - one that benefits future generations of Indianapolis children as well as lifelong learners. Library programs funded through private sources include reading programs, author lectures, and outreach initiatives. There are many ways to make charitable contributions to benefit the Indianapolis-Marion County Public Library Foundation. Cash giving is one, but planned giving is another option you might find even more attractive.

What is the Library Legacy Club?

The Club consists of those who have made planned gifts supporting the Library Foundation. Planned gifts include several kinds of giving, ranging from leaving a bequest to the Foundation in your will to making the Foundation a full or partial beneficiary of your retirement plan to arrangements that provide some income for you during your lifetime.

How can I become a member?

You become a member of the Legacy Club by making a planned gift and notifying the Foundation.

How will I be recognized?

You will be recognized in each of the Library's annual reports on an ongoing basis. Additionally, you will receive invitations to special events and our newsletter. For Library Legacy Club members making planned gifts of $25,000 or more, the Foundation offers a variety of additional recognition opportunities, such as naming library areas or programs.

What will my gift support?

Your gift will make possible Library programs benefiting children, students, job-seekers, and lifelong learners. The nationally renowned Marian McFadden Memorial Lecture was established with a bequest. Other planned gifts have supported the Library's On the Road to Reading early literacy outreach initiative for preschool children in licensed home daycares and the Memory Exhibit at Central Library.

In my will, I want to provide for heirs. Does the Foundation require a minimum bequest?

The Foundation accepts bequests of all sizes. We respect your desire to provide for heirs. In some cases, planned gifts can reduce your estate tax liability, increasing the amount available for heirs.

How do I make a planned gift?

The above chart provides a simple breakdown of the various types of planned gifts. If you would like to make a planned gift, please contact us or your attorney or financial planner for assistance with the specifics.