Wills & Bequests

Leave a legacy of learning and connecting by remembering The Alexandria Library Foundation in your will. Making a gift through your will is one of the easiest ways to make certain libraries remain an essential part of our community now and in the future. We accept bequests, gifts of stock, life insurance, and retirement assets. You can give a percentage, specific amount, or remainder of your estate in your will.

By naming the Alexandria Library Foundation as the beneficiary of an IRA or other retirement account, you help further our mission while avoiding significant income or estate taxes for your heirs.

Please provide your estate planner with the following information.

Legal Name: Alexandria Library Foundation
Mailing Address: 5005 Duke Street, Alexandria, VA 22304
EIN/tax ID number: 54-1875224

If you’d like to speak to someone about planned giving options, please contact Michele Stork at 703-212-8129 or mstork@alexlibraryva.org.  If you have already included the Alexandria Library Foundation in your estate plans, we hope you will let us know by emailing Michele at mstork@alexlibraryva.org so we can thank you and learn how you’d like to be recognized.

Appreciated Stock

Qualify for an income tax charitable deduction and avoid paying taxes on appreciated value.

How It Works

1. You transfer appreciated stocks, bonds, or mutual fund shares you have owned for more than one year to the Alexandria Library Foundation.
2. The Alexandria Library Foundation sells your securities and uses the proceeds for our programs.

Benefits

1. You receive an immediate income tax deduction for the fair market value of the securities on the date of transfer (even if you originally paid much less for them).
2. You pay no capital gains tax on the transfer when the stock is sold.
3. Giving appreciated stock can be more beneficial than giving cash. The cost of your gift is often less than the deduction you gain by making it.

Upon your verification of transfer, please send an email to Michele Stork at mstork@alexlibraryva.org with the following:

1. The name, mailing address, email address, and phone number of the donor;
2. The name, symbol, and number of shares of the stock transferred; and
3. The actual date of transfer.

We will determine valuation based on an average of the high and low of the stock on the date of transfer, and send a formal letter of acknowledgment to the donor. If you transfer stock before December 31, you can claim the tax deduction on that year’s tax return.

If you’d like to speak to someone about stock donations, please contact Michele Stork at 703-212-8129 or mstork@alexlibraryva.org for instructions.

IRA Distribution

Support Alexandria Library Foundation with a Qualified Charitable Distribution from your IRA.

What are Qualified Charitable Distributions?

Qualified Charitable Distributions (QCDs) are distributions from your Individual Retirement Account (IRA) made directly to a qualified nonprofit organization, such as the Alexandria Library foundation, without having the distribution counted as taxable income.

QCDs are also sometimes referred to as IRA Charitable Rollovers. Up to $100,000 in IRA funds can be counted as QCDs annually, or $200,000 for married couples.

Who is eligible to make a QCD?

Anyone above the age of 70 ½ can make a QCD. Once an IRA holder reaches the age of 72, they are required by law to make an annual withdrawal from their assets, which is known as a Required Minimum Distribution (RMD).

What are the benefits?

QCDs can reduce your income taxes. Normally, funds that are distributed from a Traditional IRA are includible in your taxable income, which is likely to increase your overall tax burden. In some cases, this additional income may also move you into a higher tax bracket.

However, QCDs are an exception to this rule—funds go directly from your IRA to your chosen charitable organization without going to you first, thereby lowering your adjusted gross income and effectively reducing your income taxes.

QCDs can satisfy Required Minimum Distributions. Required Minimum Distributions (RMDs) are amounts that you must withdraw annually from your Traditional IRA once you reach 72 years of age. If you do not withdraw your RMD, you will face a penalty tax of 50% of the required withdrawal amount. QCDs can be used to meet this RMD requirement and avoid penalties.

QCDs maximize your charitable impact. Because in most cases QCDs do not need to be recognized as income, charitable organizations receive the full amount of the transfer tax-free. It’s a win-win situation that both supports you and the causes you care about.

How can I make a QCD to the Alexandria Library Foundation?

Connect with your IRA custodian to inform them of your intent – your IRA custodian will need to process the QCD and send it directly to Alexandria Library Foundation. Send an email to Michele Stork at mstork@alexlibraryva.org to inform us of your intent to support Alexandria Library Foundation (many retirement providers do not provide donor information to the nonprofit recipient).

Please use our legal name and federal tax ID: Legal name: Alexandria Library Foundation Mailing address: 5005 Duke Street, Alexandria, VA 22304 EIN/tax ID number: 54-1875224

Already supported the Alexandria Library Foundation through a QCD?

Have you already chosen to support Alexandria Library Foundation through a QCD this year? We’d love to hear from you to allow us to thank you for your gift! Email Michele Stork at mstork@alexlibraryva.org

Do you have a Donor Advised Fund (DAF)? Gifts from a Donor Advised Fund are a wonderful way to support our libraries and ensure they remain well-stocked with books, technology and resources to benefit everyone in our community. If you have or are planning to donate using your DAF, please let us know by sending us the information below.

If you’d like to speak to someone about DAFs, please contact Michele Stork at 703-212-8129 or mstork@alexlibraryva.org. Thank you for supporting our libraries!

• First and Last name
• Email
• Phone number
• Address

Please Note:
Per IRS regulations, funds from a Donor Advised Fund cannot be used to pay for event sponsorships or tickets.

Celebrate and honor loved ones with gifts to the libraries they love. Gifts to honor individuals, or in memory of loved ones, are a wonderful way to strengthen our libraries while commemorating someone special.

To make an online gift in someone’s honor or memory, please click on the button below and make sure to check the box that states “Give in Honor/Memory.”

DONATE

Request a Matching Gift Form from your company and mail or email the completed form to the address below:

Alexandria Library Foundation
5005 Duke Street
Alexandria, VA 22304

Email: mstork@alexlibraryva.org

Make a gift by electronic funds transfer or wire transfer. Call 703-212-8129 or email mstork@alexlibraryva.org