Securities or Stock
Outright gifts of appreciated securities (stocks, bonds, mutual funds) are tax deductible at full fair-market value if the donor has owned the asset for at least 12 months. To avoid capital gains, you must provide the securities themselves – not the proceeds of their sale!
The Auburn Public Library uses BGA Financial to process all gifts of appreciated securities. Donors should call Steve Carew at 207-772-4311 for instructions on making a gift of appreciated securities (e.g. stock).
Creating a legacy with an Endowed Fund
The Auburn Public Library is grateful for the many people and families who have honored loved ones – both those living and those who have passed away, with an endowed fund. The APL uses the interest from our endowment to purchase books, to provide an ever-increasing array of programs and workshops, and to meet the Library’s immediate needs.
Endowed funds may be created with a gift of cash or securities, a pledge payable during a specific period of time or as part of your will, trust or other planned giving vehicle.
Contributions may also be sent to the Library in memory or honor of an individual for whom an endowed fund has already been created.
Endowed funds that have reached a minimum threshold are recognized through handsome, handcrafted, leather-bound faux books in our endowment bookcase prominently located on the main concourse. A different size represents each level ($5,000, $10,000 and $25,000.) The name of the endowed fund is engraved on the book in gold lettering along with the year the fund was established.
All of our endowed funds are managed by the Maine Community Foundation, a non-profit based in Augusta, Maine. Currently, the APL Trustees draw down 4% of any interest earned in the prior year. This conservative strategy ensures preservation of the endowment principal for future generations of library users.
For more information on our endowed funds, contact Mamie Anthoine Ney, Library Director at (207) 333-6640, option #6.