Funds Move to Community Foundation

Two important financial funds that the Library maintains have just found a new home in the Community Foundation of Dutchess County. The Community Foundation is a public charitable organization that represents thousands of donors who give to more than 350 separate funds--two of which are now the Endowment Fund and the Building Fund of the Pleasant Valley Free Library. 

The Endowment Fund consists of money given to the Library with the restriction that only the interest be used.  Interest is allowed to accumulate until it is needed for a specific purpose.  Mostly recently, several thousand dollars in interest from the Endowment were used to purchase the colorful new furniture, primarily bookcases, for the Children's Room on the refurbished and renovated second floor of the Manse.  The Building Fund is occasionally  tapped to promote steps needed to progress toward the much needed expansion of the Library, but mostly is intended to grow and grow until there is enough accumulated to begin work on expansion. While the Community Foundation is taking care of the Library funds, the money will be invested in high-yielding Certificates of Deposit. 

An important benefit of having these two Funds at the Community Foundation is that both Funds are set up to receive donations from the public.  The Community Foundation is a specialist in taking care of donated money (and also in awarding donations to fill community needs).  If you want to donate to the Endowment Fund or to the Building Fund of the Pleasant Valley Free Library, you can send a check made out to the Community Foundation either to the Library (PO Box 633 in Pleasant Valley, 12569) or directly to the Community Foundation (80 Washington Street in Poughkeepsie, 12601). Checks should be clearly marked for the Pleasant Valley Library Endowment Fund or for the Pleasant Valley Library Building Fund. NOTE: It is best to make checks payable to The Community Foundation of Dutchess County and to indicate on the note line either Pleasant Valley Library Endowment or Pleasant Valley Library Building Fund.  

But for many persons, the Community Foundation makes an even easier way to donate to these two funds--on line.  If you use a Visa or MasterCard credit card, you can make an on-line donation. Click on this link to donate online. You will then be shown a page with boxes to fill in the amount you wish to donate, your name and address (important since these donations are all tax free and you will need the receipt that the Community Foundation mails you), and the fund name--such as Pleasant Valley Library Building Fund.  When you submit that information, you will be asked for your credit card information. It's that easy.

And--if you are like me--you will get much coveted airline miles for your donation in addition to the tax deduction. So try it.