Library Endowment Fund

Giraffe sculpture at the Central Library

The Bellingham Public Library Endowment Fund (BPLEF) is an endowed agency fund of the Whatcom Community Foundation. The BPLEF was established in 1997 through a bequest from a library patron. The proceeds from that bequest totaled more than $120,000.

Endowment funds are held by the Foundation in perpetuity to provide interest and dividend earnings for the benefit of a charitable use, in this case the Bellingham Public Library. In every year when market performance allows for a distribution of funds, the Library receives a check from the Foundation.

Individuals can build endowments through current gifts of:

Cash
Appreciated property, such as securities (gifts of appreciated property enable donors to receive a tax deduction and avoid capital gains tax)
For donors 70 ½ and older, mandatory distributions from their Individual Retirement Accounts (IRAs) of up to $100,000 are tax deductible for 2008 and 2009 when made directly from the account. Please visit the Foundation website for more information.
Paid-in-full, but unneeded, life insurance policies
Income paid to a donor from a charitable lead trust or gift annuity
Real property

Individuals can also contribute future gifts via:

A bequest to the BPLEF included in a will (the most prevalent type of planned gift and is how the BPLEF was started!)
IRAs and other retirement funds by naming the BPLEF as the beneficiary
Life insurance, with the BPLEF made the beneficiary
Planned gifts, which make the BPLEF the beneficiary of a trust, annuity, or life estate.

Checks can be sent to:

Bellingham Public Library Endowment Fund
Whatcom Community Foundation
119 Grand Avenue, Suite A
Bellingham, WA 98225

For more information on how to contribute, please contact the Whatcom Community Foundation at 360-671-6463 or wcf@whatcomcf.org or visit their website at www.whatcomcf.org .