Tulare County Library Foundation

Endowment Fund
The Library Endowment Fund is a part of the Tulare County Library Foundation, a non-profit organization. The Endowment Fund works within the Foundation's mission to raise, manage and allocate funds to support and enhance the programs and services of our library system. We are dedicated to building a financial base through donations, wills, bequests and grants for the Visalia/Tuare County Library System.

Does the Endowment Fund provide tax benefits?
Gifts to the Library Endowment Fund are tax deductible. Strategic gifts may enhance the value of your estate. Consult your accountant or attorney for specific tax planning.

What is its purpose?
The purpose of the Endowment Fund is to provide assistance for special programs and projects not generally available to the Library, because of limited tax revenues. The Endowment Fund will allocate 5% annually of the total market value of the Endowment Fund rather than all current income in a year. The 5% distribution will begin when the total market value of the Endowment Fund reaches $250,000.

Are gift sizes restricted?
No! Gifts of any size are encouraged.

How does the Endowment Grow?
Through gifts of cash, stocks or bonds and accepted gifts of real estate and personal property. Also through bequests or as a beneficiary to an insurance policy. Additionally, the fund will accumulate the appreciation of the assets and interest earned.

Who decides how the money is spent?
The Planned Giving Committee oversees the Endowment Fund and reviews all applications before making a recommendation to the Tulare County Library Foundation Board of Directors for a final approval before any funds are awarded.

Possible Uses of the Fund
Projects that enhance life-long learning and literacy
      • Bookmobile
      • Technology
      • Specialty book collections

Projects that bring awareness and exposure to the arts
      • Our cultural history
      • Art displays
      • Links to art museums

Projects that improve service to children, teenagers and seniors
      • Children's Library
      • Summer reading program
      • Books on tape/CD

Or you may contact the Library with an idea for a project.

Good Stewardship
We believe the true purpose of the Endowment Fund is to maintain its purchasing power over time. A donor who gives us endowed funds today should expect that the gift will support its intended purpose in a similar purpose 100 years from now. Studies have shown that if more than 5% of the principle is used each year, real principle begins to be consumed by inflation. Therefore, the investment policy of the Endowment Fund emphasizes growth as well as current income to ensure a long-term benefit for the community. Thus, every donor who has thoughtfully and carefully considered a tax-deductable charitable gift can have confidence that his or her philanthropic act can continue to benefit the citizens of Tulare County for years to come.