Donations and Gifts

We know the community has many preferences on the ways they most like to give. Here are the options offered by the Friends of the Madison Public Library

Cash Gifts

You can donate online with your credit card through the Donate Button or you can write a check made payable to Friends of Madison Public Library and mail it to FMPL, 39 Keep Street, Madison, NJ 07940. You will receive a receipt acknowledging your gift.

Memorial or Tribute Gifts

You can honor or memorialize someone in your family, a friend, or a community member by making a gift to the library in his or her name. The honoree (or the family, if a memorial) will receive a letter notifying them of your donation, and you will receive a receipt acknowledging your thoughtful gift. You can also arrange this through the Donate Button.

Employer Gift Matching Programs

Many companies set aside funds for philanthropic purposes and allocate these monies through employer gift-matching programs. These programs allow employees (and often spouses, retirees, and directors) of the company to contribute to a non-profit organization which is then matched by a corporate gift.

Matching levels vary from one company to another, but regardless of the percentage of the match, these gifts are greatly appreciated by FMPL.

Although procedures for matching gift programs vary, matching gift forms are usually obtained through the employer’s corporate internet site or human resource office.  For donations by check, the employee sends a signed form from your employer along with a check made payable to the “Friends of Madison Public Library.”  For online donations use the Donate Button and then forward the Employer Matching Gift form to the following address:

Friends of Madison Public Library
39 Keep Street
Madison NJ 07940

Securities Donations

Donors can make gifts of publicly traded securities that have appreciated in value because of certain tax advantages. You may be entitled to a charitable income tax deduction for the fair market value of the gifted securities as of the date of the gift.

We encourage you to consult your financial planner or tax adviser who can assist you in evaluating the tax advantages available to you when donating appreciated securities.

To donate securities, please contact us at friendsmadisonnjlibrary@gmail.com for detailed instructions.

Planned Giving Options

*Please contact the Library Director for additional information regarding these opportunities. The advice of an attorney and qualified financial planner is necessary to assess your situation and help you decide which options might best serve your goals.

-Leave a Legacy

Of the many ways in which people or organizations can contribute to the Madison Public Library, planned giving options offer donors unique and meaningful ways to support the organization today while leaving a legacy for future generations.

-Bequests

By remembering the Library Endowment, MPLI, as a beneficiary in your will, you can support the Library’s mission beyond your years. This enables you to retain control and use your assets during your lifetime and that of your spouse. Many people find they can make a more generous gift through a will bequest than they can comfortably during their lifetime. In addition, your bequest will qualify you for an estate tax charitable deduction.

-Beneficiary Designations

The Madison Public Library can be named as a beneficiary of your retirement plan or life insurance policy.

-Retirement Plans

Many people are unaware that when retirement plans such as pension funds, 401ks, 403bs, and IRAs are left to an individual other than a spouse, they can be subject to income taxes and estate taxes. If given to MPLI, these funds would escape all income and estate taxes and reduce the size of your total taxable estate. MPLI could receive up to 100% of the remaining benefit in your retirement plan, whereas your heirs may receive only a portion of the benefit. Naming MPLI as the beneficiary of your retirement plan or life insurance policy is easy: you need only to contact the administrator of your retirement or insurance plan and state that you wish to give all or part of the remainder to MPLI.

-Life Insurance

If you own a life insurance policy that is no longer needed, you may use it to make a gift to the Madison Public Library. You may name MPLI as the owner and irrevocable beneficiary of the policy. In doing so, you qualify for an income tax deduction for the cash value of the policy. Alternatively, you could name the MPLI as the beneficiary of the policy. In this case, your estate would be entitled to a tax deduction equal to the value of the policy.