Friends Endowment Fund
The Friends & Foundation of Howard County Library System have an endowment fund established with the Columbia Foundation. To designate a gift to the Endowment Fund, please contact the Columbia Foundation at 410.730.7840. Gifts to the Friends & Foundation of HCLS Endowment Fund are eligible for Friends & Foundation of HCLS membership, benefits and recognition in the same manner as standard, non-endowment gifts to the Friends & Foundation of HCLS.
Bequests And Other Planned Gifts
Although annual membership support of the Friends & Foundation of HCLS is critical to the Library’s success, the most significant way that an individual can make an impact on the Library is to name the Friends & Foundation of HCLS in their estate plans.
Below are examples of bequest language. This language should only be used as a reference. All estate planning should be discussed with and coordinated through your legal and financial advisers.
Sample Bequest Language
To give a fixed amount of money or a designated property:
“I hereby give, devise and bequeath [identify here a specific sum of money or a specific asset] to the Friends & Foundation of HCLS, 9411 Frederick Road, Ellicott City, MD 21042, to be used for the benefit of the Friends & Foundation of HCLS, 9411 Frederick Road, Ellicott City, MD 21042, in such a manner as the Board of Directors thereof may direct.”
To give the residuary or a portion of your estate:
“I hereby give, devise and bequeath all [or a portion – for example, fifty percent (50%)] of the rest, residue and remainder of my estate to the Friends & Foundation of HCLS, 9411 Frederick Road, Ellicott City, MD 21042, to be used for the benefit of the Friends & Foundation of HCLS, 9411 Frederick Road, Ellicott City, MD 21042, in such a manner as the Board of Directors thereof may direct.”
To restrict your estate gift:
If you wish to support special programs or needs of the Friends & Foundation of HCLS, your will or trust should clearly state the intended purpose so the restriction is not so limited as to prevent the Friends & Foundation of HCLS from applying the money in the most efficient way. If you wish to designate your gift, simply add,
“…specifically for [describe the primary purpose, such as general purposes of the Library, equipment, a particular program, etc].” If it is determined by the Board of Directors of the Friends & Foundation of HCLS that all or part of the gift is no longer needed, or for any reason cannot be used for the stated purpose, then such portion of the gift may be used for other related purposes, which the Board of Directors deems to be in the best interests of the Friends & Foundation of HCLS, giving consideration to the original purposes described above.”
