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Hazen Memorial Library Endowment Fund Announcement
Library Endowment Fund receives $23,579.94 donation!! An auction of old and rare books donated to the Hazen Memorial Library Trustees by the estate of Arthur Banks netted $23,579.94 to be invested in the Hazen Memorial Library Endowment Fund. That donation plus another $100 recently received from a Library patron puts the Endowment Fund balance above $41,600. The 4.5% Fund distribution rate means the Library Trustees expect to receive about $1,872 in 2017 to be used for special programs at the Library, not funded by the Town.
Would you like to see that amount even higher? If so, consider making a year-end charitable donation (tax deductible to the extent allowed by law) to the Endowment Fund before December 31, 2016. The Library Trustees have set a near term goal of reaching a Fund balance of $50,000. Achieving that balance would result in distributions of $2,250 each year. And since this is an Endowment Fund, those distributions continue every year in perpetuity without the need for fund raising events.
Of course, the long term goal for the Fund balance is unlimited. With this is mind, the Trustees ask Library supporters to consider two things; first, make donating to the Library Endowment Fund part of your annual charitable donation plan, and second, make a donation to the Endowment Fund part of your estate plan. Leaving a portion of your estate to the Endowment Fund means you will be benefiting Library patrons for generations to come.
The Trustees of the Hazen Memorial Library thank every Library supporter who has donated to the Endowment Fund in the past and sincerely hope you will help us reach the $50,000 near term goal and unlimited long term goal.
The Library Trustees, Library Director and all staff wish all Fund donors and Library patrons a safe and joyous Holiday Season and happy and prosperous New Year.
Here's how to make an online donation;