How you can support Kennett Library
A community of Friends
Our friends and donors are the bedrock of our Mission. For more than 125 years, they have been our partners in creating and sustaining a library that continues to be a vital resource for families through the generations. The library is a strong and viable asset to our community, thanks to their support, and we are most grateful for their commitment, vision, and generosity.
We look forward to the future with much excitement and anticipation. Our library is at a pivotal point in its history as it moves forward with plans to address the rapidly changing needs of the community to ensure that the library remains a vital and vibrant part of our community. In addition to an expansion of programs and outreach, the construction of a new, 21st-century library will make our impact on the community even greater. With more programs, more access, state-of-the-art technology, and more opportunities for learning, the library will be a place where the community comes together in a stimulating environment that nurtures life-long habits of learning, creativity, curiosity, critical inquiry, and innovation.
How the Library is Funded
The Kennett Library is a private 501(C)3 that is a member of the Chester County Library System. We receive governmental funding from the State of Pennsylvania, the County of Chester, and all eight of the local municipalities we serve. The remaining funds needed to operate the library come from contributions by our friends in the community through annual giving, grants, events, and through the efforts of the Friends of Kennett Library. In addition to our ongoing support, we have also embarked upon a major capital campaign to fund the construction of the new Kennett Library & Resource Center, so vital to the welfare of our community.
Partner with us!
There are so many ways that you can support the Kennett Library through a charitable gift. Your support is critical to our continued growth and vitality. The wonderful community resource that we enjoy today is possible because of donors that had the vision and commitment to support our library through the years. Join them as we prepare the way for a bright future for generations to come.
Helping the Kennett Library Now…
Kennett Library depends upon the ongoing annual support of the community. These gifts support our programs, staff, facilities, materials, and community outreach activities to provide the highest quality experience for children and adults without regard to economic status. We welcome everyone to learn, grow, explore, and have the support they need to build a brighter future. There are many ways you can help the Kennett Library continue to make a difference in the life of our community.
The simplest way to support Kennett Library is by writing a check or using a credit card on our secure online website. Checks should be made payable to the Kennett Library and mailed to the Library at 320 E. State Street; Kennett Square, PA 19348.
These gifts provide the Library with funds that can be used for greatest needs, while providing a charitable tax benefit.
A gift of long-term appreciated securities can help the Library while providing significant tax benefits for the donor. Charitable tax deductions are based on the fair market value of the security on the day of the gift. Please call Mary Hutchins at 610-444-2702 for assistance in making a gift of appreciated securities.
If you are age 70½ or older, IRS rules require you to take required minimum distributions each year from your tax-deferred retirement account. To eliminate or reduce the tax impact of this income, you may want to consider making a qualified charitable distribution to the Library. This is a direct transfer of funds from an IRA custodian, payable to a qualified charity. The amount distributed counts toward satisfying your distribution for the year, up to $100,000, and can also be excluded from your taxable income.
You can double the impact of your gift through a corporate matching gift program. A matching corporate gift can be any negotiable gift such as cash, stocks, and bonds. Check with your employer to see if they have a matching gift program and simply complete your company’s gift form and submit it with your gift.
Memorial and Tribute gifts are a wonderful way to remember or honor a life well-lived. Gifts made in memory of a friend or loved one will be acknowledged to the family so that they know of our thoughtfulness. Tribute gifts in celebration of holidays, birthdays, graduations and other special accomplishments will be acknowledged to the person or organization that is being honored.
Gifts of real estate and tangible property provide yet another way to support the Library. There are many tax advantages and methods of giving depending upon the property. Please talk with your advisor and call Mary Hutchins at 610-444-2702 for assistance.
Kennett Library Legacy Society
In addition to supporting the Kennett Library now, you can make a Legacy Gift that will provide for the Kennett Library in years to come. Gifts made through wills or various planned giving vehicles offer yet another powerful way to help foster and sustain the mission of the Kennett Library. The Kennett Library Legacy Society has been established to honor those considering the Kennett Library in their estate or charitable gift plans.
Members of the Legacy Society will be honored as follows:
- Members will be listed as a member of the Legacy Society in Kennett Library publications and other forms of recognition.
- Members will be recognized at a special reception and will be our guests at other Kennett Library celebrations and activities.
- Members will receive a Legacy Society pin.
If you have named the Kennett Library in your will or estate plans or have made a planned gift to the Kennett Library, please call Mary Hutchins at 610-444-2702 so that we may include you as a member of our Legacy Society. We thank our Members for their vision and commitment to the future of the Kennett Library and our community.
Making a Legacy Gift…
There are many ways you can leave a Legacy and significantly impact the future of the Kennett Library. Gifts made through your will or estate and various planned gifts can provide significant tax benefits for the donor while helping the Kennett Library to have a greater impact on the community, now and into the future.
One of the easiest ways to create a legacy gift is through a bequest in your will or trust. You can leave a specific amount, percentage, or the residue of your estate to the Library. To execute a bequest, simply ask your attorney to make an addition to your will, then let us know so that we can thank you and welcome you to the Legacy Society. For beneficiary designations, please use the legal name Kennett Library and the library’s federal tax ID #: 23-1547585.
There are many ways to provide a planned gift to the Library, each with tax benefits for the donor and the donor’s heirs. Some of the most common include:
- Life-income gifts, such as a Charitable Gift Annuities or Charitable Remainder Trusts, provide you with a guaranteed income stream with remaining funds going to the Library.
- Charitable Lead Trusts provide an income stream to the Library during a determined period, with assets passed to your heirs at reduced tax rates.
- The Library can also be named as a beneficiary of your life insurance policy and retirement plans including individual retirement funds (IRA), 401 (k) plan, Keogh plans and other retirement vehicles.
Planned gifts and gifts from your will or estate are so important to the future of the Library. Gifts made years ago continue to help us today. Please consult your advisor to find the best method of giving that meets your financial and philanthropic goals. We stand ready to answer questions, provide information, and assist you in any way. Thank you for considering the Library in your plans.
Directing your Gift
All gifts a deeply needed and appreciated! When you make your gift, you can designate its use for a particular need that is of interest to you including:
When you make this type of designation, you are allowing the Library to apply your gift to the greatest need. These gifts are the lifeblood of the Library and are used to support the day-to-day operations and programs such as our ever-popular Children’s Programs, Literacy programs for non-English speakers, outreach to elementary schools, community outreach, and the purchase of books, DVD’s and other items essential to the work of the Library. These funds are generally raised through the annual appeals and events, but are welcomed any time of the year.
You can also restrict your gift to a particular purpose or need. This can include a specific program, initiative, technology of equipment. Gifts made to the Capital Campaign will be used only for the development and construction of the New Library.
The Sustaining Fund is an investment fund that is maintained separately from day-to-day operational funds. These funds are used only for special purposes, extraordinary needs, and to help sustain the Library in future years. The Sustaining Fund allows both principal and interest to be used for special circumstances as determined by the Board.
An endowment fund is a long-term permanent fund that is invested to provide income annually. Only the income from these funds can be used by the Library and the principal remains intact. Theses funds can be established by donors during their lifetime of through their will or estate plans. Use of the interest for Endowment Funds can be restricted by the donor to a particular cause or can be unrestricted. These funds can also bear the name of the donor as a lifetime tribute.
Thank you!
All gifts to the Kennett Library are welcomed and deeply appreciated. We want the Library to be your community resource, one that will continue to inspire and support generations to come. Our commitment to providing the highest quality services, responsive to the needs of the community, drives all that we do. With your help, we can do so much more. We hope that you will consider including the Library in your charitable giving plans. We thank you for your commitment, support and vision, and for helping the Library continue to make a difference in the lives of so many who depend upon us for a pathway to a bright and exciting future.
