Giving to the Library: The Old Lyme-Phoebe Griffin Noyes Library receives approximately 43% of its annual budget from the Town of Old Lyme. The remaining 57% of the Library’s budget is built on the generosity of individuals and families in the community and support from the Library’s Endowment. The Library relies on donor support to fulfill our mission to inspire lifelong learning and discovery in a welcoming place with exceptional resources, programs, and services.
The Old Lyme-Phoebe Griffin Noyes Library is a 501(c)(3) tax exempt organization. Contributions are fully deductible under federal tax regulations. Help support the Library by using the donate button below or by mailing your gift to the Library at 2 Library Lane, Old Lyme, CT 06371.
Make a Donation: Give a one-time gift using our online payment portal. Visa and Mastercard are accepted.
Become a Sustaining Member: Interested in supporting the Library you love with a monthly contribution? Sustaining members provide reliable support for the Library services and programs you depend on while saving us money in paper, postage, and administrative fees. As a sustaining member, your credit or debit card will be automatically billed each month at an amount you determine. To become a sustaining member, click the sustain button and select “Monthly Gift.” Visa and Mastercard are accepted.
Memorial/In Honor Gift: It’s easy to remember or honored a loved one with a gift to the Library. Click the honor button and select the “Make this donation in honor of an individual” for a variety of tribute options. Visa and Mastercard are accepted.
Business Sponsors: Partnering with the Library is a smart, and easy, way to stretch your advertising budget. Sponsorship levels start at $125 and include recognition in our newsletter (mailed to over 7,000 local households) as well as year-long recognition on the Library’s website. View our business sponsorship handout for complete details or click the button below to become a Library sponsor. Visa and Mastercard are accepted.
Tax-Free IRA Distribution-The Perfect Tax-Reducing Charitable Gift for Non-Itemizers!: A common yet sometimes overlooked strategy for charitable giving is called a Qualified Charitable Distribution, also known as a “QCD”. Under current law, if you are 73 or older the IRS mandates a specific amount that you must withdraw from your IRA each year. This amount, called your Required Minimum Distribution or “RMD”, is taxable as ordinary income. If you are subject to RMD’s, you may instruct your IRA custodian to transfer any amount, up to $105,000, directly to the Old Lyme Phoebe Griffin Noyes Library. When you distribute money out of an IRA directly to a registered 501c3 charity, it is referred to as a QCD and is not taxable. This gift to the Library would not produce a charitable contribution deduction, but rather fulfill some or all your Required Minimum Distribution (RMD) without increasing your taxable income. This is the perfect charitable giving strategy for individuals who can’t claim itemized deductions anymore because of recent tax law changes and the higher standard deductions.
Although there are other ways to gift outright to charities whether during your life or as a bequest, QCD’s tend to be the easiest way to give without setting up additional accounts such as Donor Advised Funds, Foundations, Charitable lead/remainder Trusts, etc. Check with your tax advisor if making a QCD could be right for you.
Bequest Society, Planned Giving & Memorials: The Library welcomes bequests, gifts of securities, and other donations. The Library has been fortunate in its inclusion as beneficiary of many patrons’ estate plans and wills. These gifts have been instrumental in providing the financial resources to keep our Library operating and to grow our services. Our patrons who choose to include us in their plans comprise a diverse group of community members from every type of means, and we warmly welcome new benefactors considering us in inclusion of their plans.
Long-Term Giving Alternatives:
- Name the Library as the beneficiary of your IRA or pension plan.
- Name the Library as the beneficiary of an existing life insurance policy, or purchase a new policy and name the Library as beneficiary.
- Include a gift in your will or trust documents, whether a specific funded amount or a portion of your assets.
- Honor deserving friends and remember loved ones with memorial gifts
For further information, please contact Katie Huffman, Library Director, at khuffman@oldlymelibrary.org or 860-434-1684 x110.
