What is the Endowment Fund and Challenge Grant?
The E.D. Locke Public Library of McFarland Endowment Fund was established in 2019. The endowment fund furnishes a means for donors to provide assured long-term support for the library. Programs, events, new technologies, and other resources, that would otherwise not be affordable, can then be offered to our community. The endowment fund does not replace tax supported revenue; the earnings generated by the fund provide additional income for the library.
Gifts to the Endowment Fund are invested in funds managed by the Madison Community Foundation for the benefit of the E.D. Locke Public Library and cannot be used for other purposes. The fund is managed to preserve the principle in perpetuity, thus assuring legacy gifts will provide the long-term support intended by the donor.
A portion of the earnings from the fund are distributed to the Library annually and must be used for the purposes of the endowment which are in addition to, not a replacement for, tax supported library income. Donors to the Endowment Fund are thus assured that their gifts will be used for their intended purpose regardless of future political or budget decisions.
Why Support the E. D. Locke Public Library?
The E. D. Locke Public Library is an important and wonderful asset to McFarland and the surrounding area.
The library is a community based center for lifelong learning, and provides free computer use and WiFi, educational services, cultural events, and programs and activities for all ages.
The E.D. Locke Public Library has celebrated its 20th Anniversary and is planning for the next 100 years. The library will use these additional funds to ensure it will be able to provide the services and technologies our patrons' want and need in the future.
How to Donate
In addition to cash gifts, the Madison Community Foundation is well equipped to accept a variety of forms of legacy gifts by pledging or donating cash, securities, or real estate. The Foundation can assist with a range of planned giving methods including bequests, charitable gift annuities, charitable gift remainder trusts, life insurance, life insurance agreements, retirement plan assets, real estate, and others.
Please contact your financial or legal advisor or the Madison Community Foundation, (608) 232-1732, to help determine the best way for you to make your gift. The Foundation can assist you and answer your questions.
Cash gifts can be made several ways:
- Checks payable to the E. D. Locke Public Library. Please note "For Endowment Fund" on the check. The donation may be dropped off or mailed to:
E. D. Locke Public Library
5920 Milwaukee St.
Mc Farland, WI 53558
- Checks payable to the Madison Community Foundation. Please note "For E. D. Locke Public Library Endowment Fund" in the memo line of the check. Checks can be mailed to:
Madison Community Foundation
111 N. Fairchild St., Suite 260
Madison, WI 53703
- Online donations can be made at: madisongives.org/mcfarlandlibrary
Donations are tax-deductible. Tax receipts will be mailed to you.
"The Madison Community Foundation uses its local knowledge and assets to inspire giving, support meaningful initiatives, and connect people for the common good. Since 1942, foundation staff have helped people realize their philanthropic goals, allowing them to support charitable interests anywhere in the world. The community foundation also awards grants throughout Dane County to build communities. More information is available online at madisoncommunityfoundation.org”