Did you know? 80% of PPL’s funding comes from the generosity of people like YOU!

Recurring gifts are a way for you to give continuous monthly donations for an indefinite period of time. By becoming a CatalogPPL member, you are providing PPL with steady, reliable funding for our Library’s initiatives through a monthly gift. Monthly gifts of at least $5 help PPL immediately, so you’re increasing the value of your annual gift!

How it Works:

• You determine the amount of your monthly gift.
• We will charge the gift to your credit card around the 15th of every month so you always know when to expect a payment.
• Your monthly gift automatically renews each year, so you never have to remember to make your annual contribution.

Benefits:

As a CatalogPPL member, you’re among a group of dedicated supporters who know that every dollar makes a difference at PPL. These benefits are just a small way for us to show how thankful we are for your support:

MAKER: $5 per month

You get:

• Personalized card in the Catalogue
• Subscription to our exclusive donor e-newsletter
• CatalogPPL bookmark

Builder, $10 per month:

• All of the Maker benefits
• Catalogue PPL button pin

Explorer, $15 per month:

• All of the Maker and Builder benefits
• Catalogue PPL decal sticker
• Subscription to monthly staff book recommendations

Connector, $25 per month:

• All of the Maker, Builder, and Explorer benefits
• Personalized bookplate in a book of your choice!
• Private tour of PPL

Innovator, $50 per month:

• All of the Maker, Builder, Explorer, and Connector benefits
• Private tour for 6 of our Special Collections
• An exclusive invitation to one Conservator Society event per year

Charitable Remainder Annuity Trust (CRAT)

• A specified annual payment, based on a fixed percentage of the trust (at least five percent) at the date of inception, paid annually to the income beneficiary or beneficiaries for life. Providence Public Library receives the remainder. There can be no additional contributions.
• For an Annuity Trust, income producing securities or cash are the most suitable for funding.
• An Annuity Trust is a good vehicle for appreciated property capital gains taxes. The fixed payout feature is important for older beneficiaries who have a necessity to know how much will be coming to them every year.

Status of Deductions for CRUT or CRAT

• Charitable Income Tax Deduction – Based upon value of the remainder interest.
• Estate Tax Deduction – The fair market value of true assets is included in the gross estate, but then is fully deductible as a charitable contribution if the donor is the only beneficiary; if there is a surviving beneficiary, then the charitable contribution is based on the survivor’s life expectancy.
• Gift Tax Deduction – The charitable remainder is fully deductible; other beneficiary – gift of life interest.

Charitable Lead Trust

• A Charitable Lead Trust provides for a gift of an income interest from property to Providence Public Library for a term of years of any duration, after which the property either reverts to you as the donor or passes to a non-charitable beneficiary designated by you. The agency must receive an income interest in the form of an annuity or a fixed percentage of the value of the trust property determined annually.
• Charitable Lead Trusts may be established either during your life or through your will.

Life Insurance Gifts

A donor can irrevocably name Providence Public Library as the owner and primary beneficiary of a life insurance policy. The donor is allowed a federal income tax charitable deduction for the lesser of the policy’s fair market value or the future premiums paid. An income tax reduction for contributions to enable the Library to pay subsequent premiums is also allowed. The Library owns the policy and has access to the policy’s cash value. Upon your death, the face value of the policy will not be included in the gross estate, and therefore no federal estate tax will be due on the insurance.

Retirement Plans

If you name Providence Public Library as the beneficiary of your retirement plan, there is no estate tax or income tax on that portion of your retirement funds. You also can name a Charitable Remainder Trust as the beneficiary as long as certain conditions are met. If so, assets remaining in the retirement funds at your death will be distributed directly to the Trust and the Trust would pay income either to your surviving spouse and/or other beneficiaries. If your spouse is a beneficiary, no estate tax is due on the funds. If others are the beneficiaries, then the charitable deduction will reduce the estate tax. In either case, the transferred assets will not trigger income tax. Ultimately, the remainder would be distributed to Providence Public Library.

Your gift truly makes a difference in transforming your community. Because many variables can change the effectiveness of planned gifts, donors should review their circumstances and objectives with their own lawyers or financial advisors. For additional information, contact: Erica Busillo Adams, Providence Public Library, 150 Empire Street, Providence, RI 02903 401-455-8073 or ebusilloadams@provlib.org.