WAYS TO GIVE

The Kellogg-Hubbard Library fosters life-long learning and enriches the lives of our community members

with free and equal access to information.

We simply could not do all that we do without your help. Thank you!

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Donate now

If you prefer to donate by check, please mail to:

     Kellogg-Hubbard Library

     135 Main Street

     Montpelier, VT 05602

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IRA Rollover or QCD

Maximize your charitable giving while minimizing your taxable income. An IRA QCD is a rewarding and easy option for donors over age 70.5

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Become a KHL Sustainer

Your consistent support helps to keep our essential resources and programs free and accessible to our community members all year long

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Stocks and Bonds

Transfer ownership of appreciated stock or bonds, or cash as a gift to the Kellogg-Hubbard Library

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Explore Planned Giving

Many Kellogg-Hubbard Library friends and patrons choose to make planned gifts that will provide long-lasting support for the Library

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Wondering how much to donate?

Use the Library Calculator to figure out the value of your library use

IRA Rollover or Qualified Charitable Distribution (QCD)

 

Maximize your charitable giving while minimizing your taxable income. An IRA QCD is a rewarding and easy option for donors over age 70.5. The Required Minimum Distribution is suspended during 2020.

How It Works

An IRA QCD offers financial benefits and allows you to see the difference you’re making for KHL during your lifetime. Once you reach the age of 70.5, the IRS allows you to donate up to $100,000 per year, without incurring the customary income tax, directly from your IRA to charitable organizations of your choice. If your spouse is also 70.5 years old or older, you each may contribute up to $100,000. The amount of the IRA QCD is limited to the amount of the distribution that would otherwise be included in income. Because the income tax is waived, you will not be able to claim an itemized charitable deduction for this gift.


You’ll have the flexibility to choose where your money goes. You may choose to have KHL use it where it is most needed, or your gift can go to the endowment.

Benefits

  • Satisfy your required minimum distribution (RMD) for the year (this requirement is waived for 2020 under the CARES Act)

  • Avoid counting the distribution as income

More details

This giving option is only allowable through IRAs, not other retirement funds, such as 401(k) or profit-sharing plans. Gifts may not be distributed to donor-advised funds.


IRA QCDs are not subject to income tax, so they do not qualify for a charitable deduction. The benefits of this option comes from reduced taxable income and of course being able to make a significant impact on the charity of your choice.

Next steps

Contact your IRA plan administrator to start the distribution process. When they’re ready to send your contribution, they can make the check payable to “Kellogg-Hubbard Library” and mail to:
        Jessie Lynn, Nonprofit Director
        Kellogg-Hubbard Library
        135 Main Street, Montpelier, VT 05602


If possible please contact Jessie at 802-223-3338 or by email at jlynn@kellogghubbard.org with the following information:

     Your Name
     Gift amount and anticipated date of check arrival
     Name of IRA custodian
     How you’d like your gift to be used (unrestricted or restricted)

 

Stocks and Bonds

Transfer ownership of appreciated stock or bonds, or cash as a gift to the Kellogg-Hubbard Library.
If your holdings have depreciated, it is wiser to sell them, take the loss on your taxes, and donate the cash proceeds to the Library.


 

  • Receive charitable tax deduction to help offset income tax

  • Save on brokerage fees

 


Your gift of appreciated holdings will be fully deductible and valued at the current fair market value, saving you capital gains taxes that would otherwise have been incurred.



Contact your IRA plan administrator to start the distribution process. The Library’s broker is Charles Schwab:


Account Name: Kellogg-Hubbard Library
Account Number: 8973-4817
The DTC number: 0164

Address: 135 Main Street, Montpelier, VT 05602
Federal Identification Tax Number: 03-0181056

When they’re ready to send your contribution, they can make the check payable to “Kellogg-Hubbard Library” and mail to:


     Jessie Lynn, Nonprofit Director
     Kellogg-Hubbard Library
     135 Main Street, Montpelier, VT 05602
 

If possible please notify Jessie Lynn of your stock gift by calling 802-223-3338 or emailing jlynn@kellogghubbard.org and include the following information:


Name
Approximate gift amount and anticipated date of check arrival.

(The deductible amount of your gift will be determined by the average share value on the day of the transaction.)
Name of stocks
How you’d like your gift to be used (unrestricted or restricted)

Next steps

Benefits

More details