Cash
Support the Fund
Philanthropic support is critical to promoting leadership and innovation, enabling the Library to test new ideas, leverage those ideas to scale, and respond to evolving community needs. While city funding provides the Boston Public Library with a strong base of support, gifts at all levels make innovation and expansion of new services and programs possible.
Some of the most common ways to make a gift to Boston Public Library Fund are to write a check, make a gift using a credit card, or donate online.
A gift of cash could be right for you if:
- You want the easiest way to donate to Boston Public Library Fund.
- You want the largest possible income tax charitable deduction for your gift.
- You would like to make the gift to Boston Public Library Fund that has the greatest immediate impact.
How it works
You make a gift of cash directly to Boston Public Library Fund and you receive an immediate income tax charitable deduction.
How Your Gift Helps
Your gift to the Boston Public Library Fund plays a pivotal role in transforming the Library’s aspirations into results, and in catapulting us to new heights and achievement by
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supporting the preservation of vibrant resources that define and distinguish the Library;
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helping us serve every person who walks through our doors; |
affirming our role as a trusted beacon of information and learning. |
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What is an outright gift of cash?
An outright gift of cash is when you transfer funds to Boston Public Library Fund and get nothing of financial value in return. The most common way for donors to make an outright gift is to write a check payable to Boston Public Library Fund.
Gift provides immediate support
Unlike some other gift arrangements, your outright gift will provide resources that Boston Public Library Fund can put to immediate use. If you prefer to restrict our use of your gift in any way, please contact us so that we can be sure that we can carry out your wishes.
Maximum tax savings
You may deduct the full amount of your donation up to 60% of your adjusted gross income, after your total itemized deductions for the year exceed 0.5% of your Adjusted Gross Income. If you cannot deduct the full value of your contribution, you may carry forward your unused charitable deductions for up to five additional years.
Ways to give cash
Most donors make an outright gift by writing a check payable to Boston Public Library Fund and mailing it to us. You may also make a cash gift using your credit card.
Example
Agnes Vasquez would like to make an immediate $15,000 gift to Boston Public Library Fund. Agnes could write a check for this amount and earn a charitable deduction equal to $15,000. Alternatively, Agnes could make a gift using her credit card by calling us on the phone, responding to a mailing, or by donating online through our website. Gifts of checks and gifts made via credit cards are considered cash gifts.
Benefits
- Agnes may deduct up to 60% of her adjusted gross income for her gift of cash, providing tax savings if she itemizes.
- If Agnes itemizes deductions but cannot use the entire deduction in the year of gift, she may carry the balance forward for up to five additional years.
- Assuming Agnes itemizes deductions and can use her entire income tax charitable deduction of $15,000, she will save her $5,550 (37% tax).
- Agnes will gain the satisfaction of making a $15,000 gift to Boston Public Library Fund.
