What is the Lakeview Community Library Endowment Fund Charitable Trust?
This trust was established in 1996 by Beatrice Schroeder, Jean Sepstead and the Village of Random Lake from proceeds of the sale of the library building at 430 Second Street, which is now The Classic Touch. The trustees of this trust include one representative each from the Village of Random Lake, the Village of Adell, the Town of Sherman, the Town of Scott and one community member at large.
What is the purpose of this Trust?
The trustees may receive and accept gifts of property from any person, estate, trust or corporation to be held, administered and disposed of in accordance with the provisions of the Trust to produce an annual flow of income to be used to develop programs, to focus public attention on library services, facilities and needs in the Random Lake, Adell, Town of Scott and Town of Sherman area and to otherwise further educational activities through financial support to the Lakeview Community Library.
No income will be distributed by the trustees until total assets of the Trust equal $50,000.00. All subsequent income may be used for the purposes stated above. All gifts of principal will be held in perpetuity.
How can I contribute to the Trust?
Planned gifts and bequests help to ensure the long-term success of the library – and they can work financial wonders for you and your loved ones. And your gift will continue to give for future generations:
- Gifts of cash
- Gifts of appreciated securities (by donating appreciated stock, you may reduce or eliminate capital gains and receive a substantial income tax charitable deduction)
- Gifts of real estate
- Gifts of personal property
- Gifts by Will or Revocable Trust
- Gifts of Retirement Plans
- Gifts of Life Insurance
- Gifts by IRA transfer for taxpayers age 70½ or older
All gifts are tax-deductible. Please consult a tax or estate attorney for complete details.
For further information, please contact the Lakeview Community Library at 920-994-4825 or email us at lakeview@monarchlibraries.org