While public funding makes it possible for the Cranbrook Public Library to open its door, it thrives because people love it.
Each year, people make generous donations that make it possible for the Library to acquire more collection items, enhance programs and refresh furnishings. The Cranbrook Public Library Endowment Fund gives people an opportunity to create a meaningful legacy, to build a strong foundation in the present for the future of the Library.
In 2015, the Library raised over $10,000 to establish the endowment fund. Now it is working to build the fund further so in the future it can support the Library’s initiatives to better serve its community.
How the Endowment Fund Works
The donation, called capital, is invested through the Cranbrook & District Community Foundation. Each year, the Library receives the growth revenue that the capital earns. The capital never gets touched so it continues to grow year after year. As the value of the capital in the endowment fund grows so does the amount of growth revenue that the Library receives. This revenue provides stable ongoing funding the Library can use to create innovative programs and services that will help meet our community’s changing information and reading needs well into the future.
Here are some of the ways you can make a contribution:
When you give a cash donation you decide whether the Library will benefit from it right away or whether it will contribute to future innovations by placing it within the endowment fund. Either way, you receive a charitable tax receipt for any donation over $20.
You can make a donation to the Endowment Fund at any time. Simply fill out the donation form and drop it off with your donation at the Cranbrook Public Library.
Do you have some spare change that’s weighing down your pocket or purse? Drop it into the donation jar at the circulation desk the next time you visit the Library.
Cash or Cheque Donations
Whether it’s a one-time donation or a recurring monthly gift, these donations will immediately begin to support the Library.
In Memory/In Honour Donations
Pay tribute to a family member or friend, mentor or colleague through a donation. Your gift honours their impact in your life while supporting a vibrant future for the Library.
Some employers will match your donation, in effect doubling your gift. Check with your employer if they offer this kind of program.
You can support the Library with legacy gifts that don’t impact the way you currently live, and may significantly lower the cost of giving. Estate planning professionals can help you establish a gift that takes full advantage of tax considerations. This minimizes the impact of your gift on your family’s security and lifestyle while it maximizes the benefit to the Library.
Contact the Cranbrook & District Community Foundation directly if you want to look at making one of these donations. They will help you set up your gift.
You can add a gift to the endowment fund into your will and create a lasting legacy to support the Library .
Publicly Listed Securities
Donating publicly-traded shares is a tax-efficient way of making a gift.
Gifts of Life Insurance
You can designate the Cranbrook Public Library Endowment Fund as a beneficiary of your insurance policy. This creates a charitable gift that may also result in considerable tax savings.
Gifts of Retirement Plans
You can make a charitable gift of your RRSP/RRIF and completely eliminate all the deferred taxes.
Gifts of Property
You will get a charitable tax receipt for the market value of any property you donate.
Friends of the Library and Cranbrook Public Library Fundraisers
Throughout the year, the Friends of the Library and the Cranbrook Public Library hold a number of fundraisers for the endowment fund. Keep an eye out for these events and others.
The fun, fast-paced online auction takes place on the Library’s Facebook page for two weeks in March. Businesses in Cranbrook and area generously donate a range of great items that you can bid on.
Sam Steele Day Barbecue
During Sam Steele Days, the Friends of the Library hold a lunchtime barbeque. Pick up some food and perhaps even a book or magazine to read on your lunch break.
Keep an eye out for our float in the parade on Saturday morning.