Planned giving, or legacy giving, is leaving a gift to the foundation that will sustain the library system beyond your lifetime. Legacy gifts are a wonderful way for someone who loves the library to make a high-impact contribution.
Thanks to the generosity of those who have included the PGCMLS Foundation in their estate plans, the future of Prince George’s County Memorial Library System is bright. Your planned gift is a wonderful vote of confidence in the mission, people, and programs that make our library system special.
Making a planned gift is not just for the wealthy. People at all income levels can leave gifts in their will or estate that will significantly impact the library system for generations to come.
Include the PGCMLS Foundation in your will.
Sample bequest language: I give to the Prince George’s County Memorial Library System Foundation, a 501(c)3 non-profit organization, the sum of $______ or _____ percent of estate to be designated for distribution to the Prince George’s County Memorial Library System.
PGCMLS Foundation
9601 Capital Lane, Largo, MD 20774
Tax ID # 47-1717681
You receive an income tax deduction for the fair market value of the securities on the date of transfer, no matter what you originally paid for them. You pay no capital gains tax on the transfer when the security is sold.
Under current tax law, if you are over 70 and a half and are required to take distributions from your retirement account, you can elect to send a gift directly from your retirement account to the PGCMLS Foundation and that gift will count towards your required minimum distribution. There can be tax advantages to this approach. You should consult with your tax/financial advisor about this planning idea.
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In your lifetime, PGCMLS has grown and innovated, finding ways to serve you and the Prince George’s Community. Pass along your passion by investing in a library system for future generations.
Let the PGCMLS Foundation know of your estate plans and intentions. We will add you to our list of Prince George’s Legacy Society members. If you wish to be anonymous, let us know and we are happy to respect your request. There is no minimum amount to be a Legacy Society member. Benefits will include invitations to special library events and special updates.
Questions? Please contact Shelley O’Brien, Director of Development and Donor Engagement at shelley.obrien@pgcmls.info or (301) 699-3500.
We encourage you to talk to a tax professional about your options. A little planning will allow you to live the joy of knowing you are leaving the library a legacy.
