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Preserving the Past and Securing the Future

Local community libraries are the lifeblood of towns and cities. These institutions serve as hubs for education and leisure. American libraries, like the East Lyme Public Library, also serve as social centers for the residents of their municipalities. In these capacities, they must be preserved, nurtured, and further enhanced.

The East Lyme Library Foundation or ELLF, as it is affectionately called, was founded in 1992 as a not-for-profit, tax-exempt, 501(c)(3), non-operating private foundation to support the East Lyme Public Library by:

  • Overseeing, managing, and growing an endowment created by Townspeople and designated solely for the Library.

  • Fundraising distinct from the Library’s Annual Fund--whereas monies raised by the annual drive are usually immediate cash contributions and are directed towards day-to-day operations at the Library, ELLF donations can take many forms including outright cash, appreciated stocks, and bequests and other planned giving, and are targeted not only for current needs, but also for the future.

  • Providing town residents with fun, interesting events that educate in unique ways.

Thanks to the generosity of many donors over the years, the Foundation’s endowment now totals over $1,000,000. It is prudently invested, utilizing professional investment guidance, for permanence and growth with 5% of its corpus distributed to the Library each year for the purchase of books and large ticket items and for the refurbishment of the facility, while the remainder constitutes a safety net for the future. In this way, a gift to ELLF is a gift that keeps on giving … forever.

Giving Options

A contribution to ELLF is a wonderful way to support the Library and express your commitment to the power of information, ideas, knowledge, and community.  Gifts can take many forms, the most common being outright contributions of cash and gifts of appreciated securities. Some yield immediate tax deductions. Others may help avoid long term capital gains taxes or may reduce estate and gift taxes. Still others can provide an annual income stream for the donor. 

A gift can be unrestricted, the money directed by the Library’s Board of Trustees and Executive Director to an area that is in need, or it can be restricted  to a specific purpose such as books in a certain literary area or to a specific space in the Library, such as the children’s section.

Here are some giving options for your consideration:

1. Outright gift of cash--this type of giving is simple and easy.  It generates an immediate charitable deduction for those who itemize on their taxes. Any amount that fits one’s pocketbook is most appreciated by ELLF, right up to sizeable donations that are designed as investments in the future of the Library.

2. Appreciated securities—a donation of a long-term appreciated stock or other security provides an immediate charitable deduction based on the current value of the securities, and you avoid capital gains tax. 

3. Tangible Personal Property—this comprises items like art, books, jewelry, or even automobiles and boats. Donors would be entitled to a charitable donation equal to a percentage of the fair market value of any item held for more than one year.

4. Gifts of real estate and life insurance policies--the former can help minimize capital gains tax and removes assets from one’s estate helping with estate tax planning, while both may be deductible under Internal Revenue Service (IRS) charitable donation rules.

5. Charitable gift annuity--an annuity creates a lifetime income plan for the donor. ELLF establishes this pathway in partnership with the Community Foundation of Eastern Connecticut (CFECT). A donor transfers money or securities to CFECT. In exchange, he or she receives a guaranteed income stream for life from the invested funds, the amount determined by the size of the donation, the age of the donor, and the gift annuity rate offered by CFECT. Tax advantages for the donor are multiple including a charitable deduction for the gift portion of the annuity, a portion of the annual income deemed tax-free by the IRS, and avoidance of part of the capital gains if the annuity is funded with appreciated property. At one’s passing, the annuity’s residual remains in a permanently endowed fund at CFECT, which then makes annual distributions to ELLF in perpetuity.

Note:  if you are interested in making a gift through your Donor Advised Fund or by a Qualified Charitable Distribution (QCD) from your Individual Retirement Account (IRA), you can direct these gifts to the Library itself since the ELLF is not an eligible repository for such gifts.  



Would you like to support the Library as part of your legacy? 

You can make a bequest to ELLF in your will or trust or name ELLF as a full or partial beneficiary of your IRA. Or you can create a Charitable Remainder or Charitable Lead Trust with ELLF as a beneficiary. With legacy giving, your gift is deferred until after your lifetime and can have significant estate planning benefits as you determine how you want to take care of the people and causes you love.
Any of the provided information is not meant to serve as financial advice. Please consult your professional advisors for how giving may best benefit you. 



Honoring Your Generosity

The 1897 Society

The 1897 Society recognizes the founding year of the Niantic Library and Reading Room Association, now the East Lyme Public Library. Contributors donating to ELLF in amounts up to and including $1,999 automatically become Members of the 1897 Society and will be listed in the Foundation’s literature.

The Annie Bond Society

Annie Bond and her sister, Maria (Mrs. F.H. Dart), along with several other women in town, helped create the Niantic Library and Reading Room Association. Annie went on to fill the principal librarian position for 47 years! Others in the Bond family, including Maude and Stephen Bond, also significantly aided in the Library’s development. To honor Annie and the rest of her family, the Annie Bond Society was created in 2003. A donation of $2,000 or more confers membership in the Society. This amount can be a one-time contribution or the sum of multiple gifts. It can be personal or in memoriam of a friend or relative. The donation can be current or a pledge to include ELLF in one’s estate planning through a bequest, beneficiary designation, charitable gift annuity, or other planned gift. Donors of $2,000 to $4,999 join the Bronze level of giving, $5,000 to $9,999 the Silver level, and $10,000 and over Gold. A plaque at the Library’s entrance recognizes Members and their level of giving.

The East Lyme Library Foundation Bookies Program

The Bookies Program was established in 2017 to recognize local companies and organizations who donate $500 or more to ELLF on an annual basis. Their participation is very much appreciated.

The East Lyme Library Foundation is here for both the East Lyme Public Library and for You
With your help, ELLF will sustain and enhance our great Library now and well into the future.

ELLF Board of Directors

  • Carolyn Boyle

  • Amy Brenner-Fricke

  • Abi Cushman

  • Maureen Fang

  • Larry Fitzgerald, ex-officio

  • Dr. Rosalia Gonzales

  • Nancy Hall, Secretary

  • Anna Johnson, Treasurer

  • Robert Linden, M.D.

  • Jan Logozzo

  • Jeanne M. O'Connell

  • Janie Butts Pressley

  • Betsy Schady

  • Lucy Schuman

  • Joseph Segal

  • John M. Smith, Vice-President

  • Lisa Timothy, ex-officio

  • Dean Willis, M.D., President



    If you are interested in donating to ELLF or desire further information, please:

     

    1.    Contact the Library’s Executive Director, Lisa Timothy, at 860-739-6926 or ltimothy@ely.lioninc.org

                                                                    OR

    2.    Complete the Information Request section below and submit