A gift to the Waukegan Public Library ensures that your loved one's legacy is forever honored through our literacy work. Your generosity will make possible our efforts to impact literacy and promote learning and discovery in Waukegan. It's an investment in our future and a way to commemorate your loved one's passion for learning.

Planned gifts to the Waukegan Public Library ensure a lasting legacy. Your gift may be made to benefit a specific project or purpose or may be given as an unrestricted gift for the Foundation to use for the greatest need. Gifts not only benefit the Library, but afford financial and tax benefits that will help fulfill your philanthropic goals.

+ Fixed Amount of Cash

You can make a gift of a designated amount of cash in your will or estate plan.

Benefit to you: Estate tax deduction for the value of your bequest.

+ Life Insurance

Name the WPL Foundation as the beneficiary of a life insurance policy, or transfer the entire ownership of the policy to the Foundation.

Benefits to you: immediate income tax deduction for value of gift, plus possible estate tax stavings.

+ Retirement Plan Assets

Designate WPL Foundation as the beneficiary of the remaining assets of your retirement plan OR donate unneeded withdrawals during your lifetime.

Benefits to you: You will avoid income and estate taxes on plan distributions.

+ Securities

Donate securities such as mutual funds and long-term appreciated stock.

Benefits to you: You will receive an income tax deduction for full fair market value, and you avoid capital gains tax for the designated amount.

+ Designated Property/Real Estate and other Tangible Personal Property

Designate a certain amount or percentage of your designated property/real estate/tangible personal property.

Benefit to you: Estate tax deduction for the value of your designated property/real estate/tangible personal property.

+ Charitable Remainder Annuity Trust

An irrevocable trust that pays its beneficiaries a fixed dollar amount or a fixed percentage of the initial value of the assets that funded the trust. The income from the trust can be paid to multiple beneficiaries for their lifetimes or for a predetermined number of years. When the annuity trust terminates (at the death of the last beneficiary or at the end of the trust term), the remaining balance is transferred to WPL to be used for the purpose that the donor specified when the gift was made.

Benefits to you: Provides an income to you and other beneficiaries for a predetermined number of years or your remaining lifetime; immediate tax deduction

+ Charitable Gift Annuity

You make a gift to WPL and in return, WPL agrees to make fixed payments to you for life. Payments may be made to a maximum of two beneficiaries (i.e. you and your spouse). At the death of the last beneficiary, the remaining balance of the annuity is used by WPL for the purpose that the donor specified when the gift was made.

Benefit to you: You will receive an immediate tax deduction and potential savings in capital gains and estate tax, and a guaranteed income stream (some of it tax-free) for life.

+ Charitable Lead Trust

You can set up a trust that provides a fixed or variable income to WPL for a specific number of years or for your lifetime. Upon your death, named beneficiaries (i.e. children and grandchildren) receive the bulk of the trust’s assets.

Benefit to you: You receive an upfront deduction based on the present value of your total income payments.

Members

We gratefully acknowledge the members of the Legacy Circle, whose dedication to promoting learning opportunities in our community will have a lasting impact.

Ray Bradbury

Eleanor Moore

Helen N. Morrow