Donations and Gifts

The Friends of the Madison Public Library is a 501(c)(3) nonprofit organization.  All donations are tax-deductible to the extent allowed by law.

Credit Card Donations

You can easily donate with your credit card online by clicking the Donate button on our website. There is a 3% fee for credit card donations.

Donor Advised Funds (DAF)

The Friends of the Madison Public Library can receive gifts from Donor Advised Funds.  Our Federal EIN is 22-6094180.

Cash or Check Donations

Cash or check donations can be mailed to:

Friends of the Madison Public Library
39 Keep Street
Madison, NJ 07940

Checks should made payable to “Friends of Madison Public Library.” You will receive a receipt acknowledging your gift.

Memorial or Tribute Gifts

You can honor or memorialize someone by making a gift to the library in their name. The honoree (or the family, if a memorial) will receive a letter notifying them of your donation if you provide that information, and you will receive a receipt acknowledging your thoughtful gift. Memorial and Tribute gifts can be made online through the Donate button.

Employer Gift Matching Programs

You can increase the impact of your gift with your employer’s Matching Gift program. These programs allow employees (and often spouses, retirees, and directors) to contribute to a non-profit organization which is then matched by a corporate gift.

Procedures for matching gift programs vary by company; many are now online on the companies’ internal websites, or you may have to obtain a form from the Human Resources office.  Employer Matching Gift forms should be sent 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 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.