GIFTS AND DONATIONS

Thank you for your generosity.

The Franklin Public Library welcomes gifts and monetary donations. These gifts/donations enable the Library to provide and enhance services in ways not financially possible within our current operating budget.

Gifts of money, books or other materials that promote the mission of the Library are welcome. The Library reserves the right to refuse any gift that the Board of Library Trustees, in its sole discretion, deems to be not in the best interest of the Library to accept. Unless specified, and agreed to by the Board of Library Trustees, gifts shall be final with no restrictions.

TYPES OF DONATION:

Material Gifts

Gifts of miscellaneous books, DVD's or other materials in good condition are accepted, based on the Library Director's approval. The Library, in accepting a gift of materials, assumes free and complete legal title to those materials and the Library may make all necessary decisions as to their retention, location, and other considerations relating to their use and disposition. All gifts/donations are accepted only if the Library Director feels the Library can utilize them.

Monetary Donation

Monetary donations, bequests, memorials and honorary contributions are particularly welcome. Funds donated will be used to purchase items in accordance with the selection policy of the Library. These will be identified with bookplates, donor plates/plaques, whenever possible, for significant donations. At the time of acceptance of a significant restricted gift/donation (for specific purposes stated by the donor), the donor will be advised that any gift funds in excess of what is used for the approved purpose of a restricted gift shall be expended at the discretion of the Library Director. The Director shall consult as he/she deems necessary with the Library Board of Trustees in making these decisions. Significant donations will be acknowledged with donor plaques at three levels: gold ($5000 and up), silver ($2500-$4,999) and bronze ($500-$2499). The plaques will be placed in different locations throughout the Library at the Library Director's discretion. A record of all gifts and donations will be kept at the circulation desk in a binder that the public can view or browse.

IRS SECTION 501(c)3 GIFTS

The Franklin Public Library is able to accept cash donations that are meant for a 501(c)3 organization.  Checks should be made out to the Friends of Franklin Public Library. The Friends have supported the Library in their DVD collection, Summer Reading Programs and other children and adult programming.

APPRAISALS FOR TAX PURPOSES

Neither the Board nor the Director will assess or suggest a value for non-monetary gifts for income tax or other purposes. The letter of acknowledgement, if requested, will not contain a statement of value for donated items. Income tax regulations leave the determination of the gift's monetary value to the donor. Monetary donations may be made out to either the Friends of Franklin Public Library or directly to the Franklin Public Library. All donations to the Library are tax deductible and provide tax benefits to the fullest extent of state and federal law. The Library will provide a descriptive receipt upon request.

Policy adopted by the Franklin Public Library Board on January 14, 2016.