Liebner Endowment Fund
What is an Endowment Fund?
An endowment is a permanent fund that provides income each year to support our mission. The Dr. Edwin & Mary Liebner Endowment Fund at the Oak Park-River Forest Community Foundation is professionally managed to ensure the funds remain strong over time. Currently, OPRFCF funds pay out 5% of the average fund balance. For example, a $100,000 fund provides about $5,000 in support each year.
Why is an Endowment Important?
An endowment provides essential stability, grows over time, is a permanent source of funding, and facilitates strategic planning. The endowment fund also presents an excellent option for donors who want to make deferred gifts.
What is a Named Fund?
A named fund is a permanent fund that honors an individual or family and benefits the River Forest Public Library. Named funds at the Oak Park-River Forest Community Foundation are created with a gift of at least $10,000. The gift may be current or deferred, as in the case of a bequest. Each year, the River Forest Public Library receives support in the name of the fund.
Who Makes Gifts to the Endowment?
Anyone can contribute to River Forest Public Library’s future with an endowment gift of any size. Endowment fund donors support River Forest Public Library in carrying out its mission, now and in the future.
What form can an endowment gift take?
Gifts to endowment take many forms. The Oak Park-River Forest Community Foundation provides professional gift planning assistance and facilitates gifts of all types, including:
Current gifts of non-cash assets, such as stock and real estate
Life income gifts
Gifts of retirement plan assets
Gifts of life insurance
What is a Charitable Bequest?
A charitable bequest is a gift made under the terms of a will. Because a bequest is flexible and revocable, it is the most common of type of deferred gift. With a bequest, it is possible to continue your support and commitment to the River Forest Public Library far into the future.
Are Endowment Funds restricted in purpose?
The Dr. Edwin & Mary Liebner Endowment Fund at the OPRFCF provides unrestricted support to advance our mission. It is also possible to establish separate funds for the support of specific purposes. Individuals and families create these funds, usually named, to address a need or support a program of special importance to them.
Is there a minimum size for gifts to our endowment fund?
No. The River Forest Public Library benefits, now and in the future, from endowment gifts of any size.
The mission of the River Forest Public Library Staff and Board of Trustees is to develop, publicize and deliver a wide range of high-quality library services to the community.
Contact the Community Foundation:
Oak Park-River Forest Community Foundation
1049 Lake Street, Suite 204
Oak Park, Illinois 60301
After you make a donation, a representative from the Community Foundation will follow up with you to ensure your donation is designated for the Liebner Endowment Fund, and to forward you a Letter of Donation to file for tax purposes. Thank you for your support.