Estate Giving

In 2024, the Newport Beach community will celebrate the 30th anniversary of the dynamic Central Library. In 1989, under the remarkable leadership of Elizabeth and John Stahr, a movement began to raise awareness of the need for a state-of-the-art Central Library. The Central Library opened in July 1994, and in 1995, the Library Foundation initiated an endowment campaign to assure the long-term support of the Newport Beach Library system. This year, the Foundation is establishing The Elizabeth and John Stahr Legacy Society to celebrate the 30th anniversary of the Central Library. The Stahr Legacy Society honors those who have left an Estate Gift to the Foundation and those who have stated the intent to provide one in the future. Estate gift donors become recognized members of the exclusive Library Leadership Circle. The names of members of the Stahr Legacy Society will be listed in the Annual Report in the Fall Bookmark magazine.

ENDOWMENT FUND – LEAVE A LEGACY

A source of ongoing support, the Endowment Fund is held in perpetuity and managed by Canterbury Consulting, Inc. of Newport Beach, CA. The experienced management group is dedicated to helping the Foundation meet its investment objectives. The Library Foundation’s Finance Committee meets with Canterbury Consulting quarterly to review the performance of each asset class. Each year, the Library Foundation withdraws a portion of the total interest earned on the Endowment Fund – approximately five percent of the fair market value. That sum is given to the Library for its greatest needs and programs. Growing the Endowment Fund is a key objective of the Library Foundation to ensure long term protection for the Library system.

PLANNED GIVING/WILLS AND LIVING TRUSTS

One of the easiest ways you can contribute a planned gift to the library is by leaving a portion of your estate to the Foundation or by naming it in your will or trust. You can substantially reduce the amount of your estate tax by specifying a percentage of your estate, designating the Library Foundation as a beneficiary on your life insurance policy, donating a block of stock, or simply contributing a fixed sum of money. The Library Foundation will also benefit from being named a beneficiary in a Charitable Gift Annuity or Charitable Remainder Trust.

INFORMATION FOR ADVISORS

It is always appropriate to consult with your professional advisors when considering an estate gift. This information can help your advisor facilitate any gift you might wish to make.

LEGACY SOCIETY

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“I believe in the power of books and libraries to change lives, especially the lives of children. I took my own children to the public library each and every week all year long. Reading is the most important thing that children must learn. That is why my late husband John and I have supported, for so many years, the Newport Beach Public Library Foundation. And that is why I believe that people should support the Foundation not just while they are alive, but after they are gone, through their wills or other forms of planned giving.”
Elizabeth Stahr

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