With the winding up of the Ottawa Public Library Foundation, the net assets of the Foundation are being transferred to the Community Foundation of Ottawa to significantly expand the existing Ottawa Public Library Endowment Fund at the Community Foundation of Ottawa.
This Fund was established in 2001 by the Ottawa Public Library. The Fund is invested and managed for the Library by the Community Foundation of Ottawa. Interest earned on the fund is used to help meet the Library’s strategic objectives as determined by the library board. The ever present need for collections, particularly e-resources, new technology, materials for adult, family and digital literacies, life-long learning, new and renewed places and spaces, as well as programming, all place new and increasing demands on the Ottawa Public Library budget. The OPL Endowment Fund helps support the Library’s vital programs and services and ensure they remain free and accessible to our residents.
The OPL Endowment Fund is a Featured Fund of the Community Foundation of Ottawa. With the transfer of assets from the Ottawa Public Library Foundation in 2013, the value of the fund will be significantly expanded. Each year the Community Foundation of Ottawa, consistent with the granting policies approved by its Board of Governors, sends the library board a cheque representing earnings on the OPL Endowment Fund from the previous year.
The Community Foundation of Ottawa is a public, non-profit organization created by and for the people of Ottawa which last year celebrated its 25th year in operation. The Community Foundation’s Charitable Registration number is 11922 7981 RR 0001. A tax receipt is issued for each donation. Gifts to the Community Foundation of Ottawa are eligible for a tax credit. Your gift can help reduce your taxes.
Since 1987, the Community Foundation of Ottawa has been enabling generous citizens to enhance the quality of life in their community and to achieve their own charitable objectives through permanent, well-managed endowments.
The Community Foundation’s role is threefold:
The Ottawa Public Library’s core funding comes from municipal taxes and supports collections, facilities, equipment, technology as well as programs and services. The Provincial of Ontario also provides a small operating grant to all Ontario public libraries including the Ottawa Public Library.
The Ottawa Public Library Board has identified and confirmed their priorities in the Library’s Strategic Plan 2012-2015. The priorities include children and teen programs, services and collections, meeting targeted community needs of our aging and diverse citizens and those of marginalized populations, supporting 21st century literacies, and expanding e-books, e-services and e-materials, creating places and spaces that are vital, welcoming community hubs and providing efficient, innovative service through the use of technology and continuous improvement.
Your gift to the Ottawa Public Library Endowment Fund through the Ottawa Community Foundation will help to sustain the library’s programs and services which are offered to all Ottawans.
Donations to the OPL Endowment Fund may be made in several ways:
1. By cheque:
Please make cheques payable to the Community Foundation of Ottawa, specifying the Ottawa Public Library Endowment Fund in the memo field.
Send your cheque to:
Community Foundation of Ottawa
#301 – 75 Albert Street
Ottawa, Ontario K1P 5E7
Attn: Barry Lam, Associate, Development and Donor Services
Community Foundation of Ottawa
3. Publicly-listed securities:
Through the Community Foundation of Ottawa, the OPL Endowment Fund can also accept gifts of publicly-listed securities. Donating appreciated securities to the fund allows you to eliminate capital gains tax and receive an immediate tax receipt for the market value of the securities. To donate securities, please complete this form describing the securities you wish to donate.
4. Deferred Gifts:
Bequests to the OPL Endowment Fund can be in the form of a specific amount or the residue of an estate. The Community Foundation of Ottawa can provide suggested wording for a will which should be reviewed with a professional advisor. A gift of this kind can result in a substantial reduction in federal gift and estate taxes.
Through the Community Foundation, the OPL Endowment Fund may be designated as the beneficiary of a life insurance policy. A tax receipt will be issued upon receipt of the proceeds of the policy at the time of death.
The Foundation may also be assigned ownership of a life insurance policy during a donor’s lifetime. A tax receipt will be issued for the cash surrender value of a policy at the time of donation. The payment of annual premiums is also a gift that generates an official receipt for income tax purposes.
For information about making a donation or technical questions regarding donations by mail or the Community Foundation of Ottawa’s online system, please contact the Community Foundation of Ottawa @613-236-1616 x306 attention Barry Lam, Associate, Development and Donor Services, or email the Community Foundation of Ottawa at [email protected]
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