Mendon Public Library

Mendon Public Library Legacy Society


Legacy (Planned) Giving


Regardless of whether your wealth is great, modest, or somewhere in between, a very significant way to contribute to the future of the Mendon Public Library, to the quality of life and learning that it has fostered in our entire community over the past 100 years, and for both now and in the years to come, is through legacy giving, also known as planned giving.


Legacy giving not only strengthens our Library and our community --- it can also provide you, the donor, with tax advantages, and ensures that your generosity will be remembered and will serve as an inspiration to others by your example as a member of our Mendon Public Library Legacy Society.


Legacy gifts for the benefit of the Mendon Public Library are made to either the Mendon Public Library Trustees or the Friends of the Mendon Public Library, both 501(c)(3) non-profit organizations. There are many options available for legacy giving. If you already have a will, you may be able to make your gift by having your attorney prepare a “codicil” (a brief written amendment) to your will. Donors who have revocable living trusts may choose to make a future gift to Library through the equivalent of a bequest --- a charitable distribution provision in the trust instrument. Normally, such an existing trust instrument can easily be amended to include such a provision.


Depending on the option that you choose, you may be able to receive cash payments that supplement your retirement income or provide support for family members and friends.


Some commonly used legacy/planned giving options include bequests, charitable trusts, transfers from retirement plans, and gifts of life insurance.



A bequest is a gift made in your will, by your estate. It may be a specific dollar amount, a percentage of the estate, or a remainder after other distributions have been made. You may also choose to restrict the bequest to a specific library purpose or program.


Suggested Forms of Bequests:

  1. Specific sums of money
  2. Specific property (such as real estate, stocks, bonds, works of art or other items)
  3. Rest and residue of your estate
  4. Contingent bequest (for example, if you are not survived by certain individuals)
  5. Bequests for restricted purposes.

Charitable Trusts

You may also choose to transfer your assets into a trust, which pays income to you, or to other designated beneficiaries, until the trust terminates and the remaining principal is left to the benefit of the library.


Transfers From Retirement Plans

Another method of legacy giving is a contribution of funds in a retirement plan such as an IRA or 401(k). This method typically offers the greatest income tax savings (and perhaps estate tax savings) when you direct that the gift be made from your estate.


Gifts of Life Insurance

Many donors overlook life insurance as a source for charitable giving, yet it can be utilized to increase the impact of your philanthropy. This is done by transferring ownership of a life insurance policy to the library or simply changing the policy’s beneficiary designation to the library for some or all of the policy’s proceeds. This type of gift is particularly popular with donors who have policies that are no longer needed to provide for their families. It is also an attractive way to give if you want to provide significant support for the library but you are not presently able to make a large outright donation.


Contact Information

Legacy giving is vital to the future of our library. When the library is named in a will or other estate-planning instrument, we always appreciate being informed. When you inform the library of your gift, you are helping us plan for the years ahead. In addition, you give us an opportunity to express our sincere appreciation, as well as to recognize you as a member of our Legacy Society. You may specify that your membership in the Legacy Society is to be anonymous; otherwise, the library may publish your name among the members of the Legacy Society in public venues such as the library’s web site, newsletters, and/or newspaper listings.


For further information or if you have questions about the proper designation of a bequest, please contact the library at (585) 624-6067. 


Of course, your attorney will also need to discuss the legalities of giving with you in detail. PLEASE CONSULT YOUR ATTORNEY ABOUT HOW BEST TO DESIGN YOUR PLANNED GIFT.





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MENDON PUBLIC LIBRARY • 22 NORTH MAIN ST • HONEOYE FALLS, NY 14472 • 585.624.6067 • 585.624.4255 (Fax)
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