The Petersburg Public Library Endowment Fund is a long term investment in the future of our community and its library. A donation in your name, or in the name of a loved one, to the Petersburg Public Library Endowment Fund will benefit our community for generations to come. Donations are tax deductible.
How to make a donation
Online We can accept your credit card donation online at the Alaska Community Foundation's secure online giving site. When asked "Please apply my gift to" be sure to select "Petersburg Public Library Endowment Fund".
By check Print and fill out our contribution form. Make your check payable to ACF - Petersburg Library Endowment Fund and mail it to: Petersburg Library Endowment Fund, PO Box 549, Petersburg AK, 99833.
At the library Contributions can also be made in person at the public library.
Six Ways to Give
Gifts of cash Cash (in the form of a check, credit card or money order) is an easy and convenient way for you to support the public library. Gifts of cash enable you as a donor to claim a tax deduction.
Securities/Stock The library can accept gifts of publicly traded stock, publicly traded bonds, closely held stock, restricted stock, partnership interest (including family limited partnerships) and mutual funds. Gifts of appreciated stock offer important tax advantages since their full fair market value is deductible as a charitable contribution up to 30 percent of your adjusted gross income each year when you itemize deductions, with any excess carried forward an additional five years. You do not have to pay capital gains taxes on the appreciated portion of your gift. After the Alaska Community Foundation liquidates the securities on the library’s behalf, the full value of the gift is available to support your charitable goals
Real Estate The library can accept the gift of a house or other personal residence, farm, commercial building and undeveloped land. A gift of real estate that you have owned for more than a year entitles you to the same federal tax advantages as those for gifts of securities – a tax deduction for the fair market value of the property – while allowing you to avoid paying capital gains tax. Gifts of real estate in excess of $5,000 require a qualified appraisal to determine the charitable deduction.
Personal Property The library can accept gifts of personal property, such as artwork or jewelry. After expenses and liquidation of personal property, the full value of the gift is available to support your charitable goals. Gifts of personal property in excess of $5,000 require a qualified appraisal to determine the charitable deduction.
Bequests Naming the Petersburg Public Library in your will or living trust is a popular way to support the community. A charitable bequest can be a specific dollar amount, a percentage of your estate, or what remains after other bequests, including to family members, are made. Or, your will can specify that your heirs receive lifetime income from your estate, with the remainder going to the Library for charitable purposes. The bequest can flow into any type of fund you choose to meet your charitable goals.
Life Insurance, Retirement Accounts or Pension Plans By naming the Petersburg Public Library as the owner and beneficiary of a life insurance policy, you receive a tax deduction for approximately the case surrender value. Retirement account funds (IRAs or company plans) may be given to the Library by proper beneficiary designation
For more information call Tara Alcock at (907) 772-3349
Questions and Answers
How does it work? Your gift is placed in an investment fund that continues to grow while part of the earnings are used to sustain and enhance library services and programs.
Why is it necessary? Major capital improvement projects and programs are currently funded in part by short-term gifts and grants, not by City funds. With the Petersburg Public Library Endowment Fund, we can substantially improve our services and continue to offer programs like these and ensure that free access to lifelong learning is available for generations.
Can I direct how my donation is spent? Yes. While your gift will have the greatest impact in the Petersburg Public Library Endowment Fund, gifts may be designated to be used for the new library, children’s services, technology related programs or collection development.
Where are the gifts invested? The Petersburg Public Library Endowment Fund is invested with the Alaska Community Foundation (ACF). ACF receives contributions from a broad range of Alaskan individuals, private foundations, and nonprofit organizations and then invests the funds with private managers. In addition, the Friends of the Library will monitor the overall success of the Fund investments
For more information call Tara Alcock at (907) 772-3349