Planned Giving

Gifts Through Wills or Living Trusts

You can give the Library Foundation money, property, or a share of your estate’s value through your will or living trust.

If you are working with your estate planning attorney to include a gift to the Library Foundation in your will or living trust, thank you! The following is sample wording you may use in your document:

I give, devise, and bequeath to the Escondido Library Endowment Foundation, tax ID #33-0537757, ____% of my estate to be used for its highest and best use. These funds should be used to enhance rather than replace City funds budgeted for library purposes.

This language can be modified to describe a gift of cash or other assets or to benefit a particular need. We can help you with that language if you want to direct your gift in a specific way. Please note that gifts for Escondido Library Endowment Foundation “highest and best use” provide the greatest flexibility for us to apply your gift toward top priorities when received.

IRA Rollovers (also known as Qualified Charitable Distributions or QCDs)

If you are at least 70 ½ years old, you may be able to avoid income taxes on transfers of up to $100,000 from your IRA to the Library Foundation. Plus, these charitable transfers can count toward satisfying your required minimum distribution. Contact your IRA plan administrator to make a Qualified Charitable Distribution from your IRA directly to the Escondido Library Endowment Foundation.

Please use the following information and include your name and phone number with your gift:

Escondido Library Endowment Foundation
Federal tax ID number: 33-0537757
239 South Kalmia Street
Escondido, CA 92025

Beneficiary Designations

To make a gift of your retirement plan or life insurance, please contact your provider, request a beneficiary designation form, and include the Escondido Library Endowment Foundation as the beneficiary of your plan or policy.

Retirement Plan: Name the Escondido Library Endowment Foundation as the primary beneficiary of a percentage or all of your retirement plan or IRA.

Life Insurance: Designate the Escondido Library Endowment Foundation as the beneficiary of all or a percentage of your policy.

Charitable Remainder Trusts

A Charitable Remainder Trust is a qualified trust that pays income to beneficiaries. After all income payments have been completed, the remainder is distributed to a qualified charity or charities. If you establish the trust, you may select the trust percentage or annuity amount, the person or people to receive the income from the trust, and the charity or charities that will receive the principal of the trust after all income payments are completed. The benefits of the trust include the potential to partially bypass capital gains tax, increase income, and receive a charitable income tax deduction.

• Benefits: You and/or others you select receive income, the potential to partially avoid capital gains tax on the sale of appreciated assets, receive a charitable income tax deduction for the charitable portion of the trust, and support LFSD.
• You transfer cash or other assets to fund a charitable remainder trust.
• In the case of a trust funded with appreciated assets, the trust will then sell the assets capital gains tax-free.
• The trust is invested to pay income to you or any other trust beneficiaries you select based on a life, lives, or a term of up to 20 years.
• Escondido Library Endowment Foundation benefits from what remains in the trust after all the trust payments have been made.