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Gifts of Cash
Why Donate? Cash contributions are a quick and easy way to support the library, and are tax deductible. Your donation will be put to use immediately toward services, materials, and programs. Sanford Library Association (dba Louis B Goodall Memorial Library) is a 501c3 tax exempt organization (EIN 01-0216657).
To mail or drop off a check, please remit to:
- Goodall Memorial Library
1364 Main St, Unit 11
Sanford ME 04073 - Related pages
> About the Library
> 2024 Renovation and Expansion
Planned Giving Opportunities
Louis B. Goodall Memorial Library gratefully accepts gifts to support library services, to improve the building and grounds, and to increase its endowments. Gifts can take several forms - please consider how these options might prove advantageous to both you and the library. For more information, please contact the Library Director - director@lbgoodall.org
Endowments
The library building facing Main Street was erected in 1937 as a memorial to Louis B. Goodall. It was presented to the Town of Sanford with the stipulation that it be forever kept and maintained as a library by the inhabitants therein.
Our endowment income mainly supports only the upkeep of the building and grounds. Staffing and material costs are not covered by endowment earnings.
Operating Expenses
The City of Sanford funds about ninety percent of our annual operating expenses - for books, videos, supplies, equipment, and staffing.
Our commitment to the community is geared to the needs and wants of library patrons. We offer cultural, educational and entertainment programs for both children and adults, and we continue to serve the literary needs of the community. As computer technology advances we provide the up-to-date hardware, software, and internet connection expected in a modern library.
Your gift to the Sanford Library Association will help ensure the future of this essential community institution.
Securities
Contributions of stock or other securities are a welcome gift at the library. If you contribute appreciated securities that you have held of one year or more, there are potential capital gains benefits.
Bequests
By leaving a bequest to the library in your will, you will make a lasting contribution to help the community. You can designate a specific amount, a percentage of your total estate, or a share of the residue after gifts to your heirs.
Living Trusts
When you choose a living trust, you can provide for yourself and your family before and after your death. You can arrange a contribution through a living trust by naming the library as a beneficiary.
Retirement Plans
You can name the library as beneficiary of your pension, 401K, IRA or other retirement plan. This gift could be the most cost-effective donation that you can make, because you avoid the possible double taxation on retirement plan assets left to your heirs.
Real Estate
Your charitable contribution of real estate – a personal residence, farm, vacation home, commercial real estate or vacant land – is a tax-wise gift that has income and capital gains tax advantages. By setting up a Retained Life Estate you can give your personal residence to the library and still maintain lifetime use of the property.
Life Insurance
When your life insurance was originally purchased, you obviously had a need for the benefits. Perhaps today you don’t need the coverage. To contribute your life insurance policy, simply name the library as a beneficiary.
Memorial and Honorary Gifts
Gifts that are made in memory of or in honor of loved ones or friends are a lasting tribute. Depending on the wishes of the family, there may be opportunities to designate additions to the collection, furnishings, or landscape enhancement, in the name of an individual.
Tangible Items
Gifts of tangible items such as furniture or electronics will be gladly accepted provided they are of use at the time of the donation.
Other Giving Options
• Charitable Gift Annuities
• Charitable Lead Trusts
• Charitable Remainder Trusts
