The Endowment Trust
The Endowment is a fund that was created in 1985 “for the welfare, support, advancement and perpetuation of the Hershey Public Library.”
Friends of the Hershey Public Library acted as settlor to the Agreement of Trust, establishing the Endowment. They continue in their role by annually appointing the Endowment Trustees and overseeing the actions of the board.
Donating to the Endowment Trust
What can I donate to the Endowment?
The Endowment can accept or arrange gifts such as:
- Cash
- Appreciated securities, bonds, or closely held stock
- Wills/Bequests
- Life Insurance
- Charitable Gift Annuities
- Charitable Remainder Trusts
- Other estate plans recommended by your attorney or financial advisor
How Can I Make a Gift to the Endowment Trust?
Contact Library Director at 717-533-6555, x3715 or library@derrytownship.org
Before making a gift, consult with your financial advisor or attorney about tax implications and gifts, investments, and estate plans that can maximize the benefits of the contribution.
A $5000 gift or more is named on a lobby plaque. We can work with donors who are interested in landscape, book or furnishings gifts.
Are any other donations possible?
The Library also has an Honor and Memorial Gift Book Program. Funds are used to purchase books or media in someone’s name. A personalized bookplate is placed on the items. Landscape and other commemorative gifts are available. Donations to the Friends can be made at any time.
Endowment Governance
The trust is managed by an Endowment Board of Trustees, appointed by the Board of the Friends of the Hershey Public Library in accordance with the Endowment’s Agreement of Trust.
The Endowment funds are managed by a professional investment firm, Bryn Mawr Trust Company.
Hershey Library Endowment Trust Board 2017
Steve Ballard
Martha Brown
Beulah Chabal
Judy Dunn, Vice Chair
Laura O’Grady, Director of Library Services
Ted Farrar, Chair
Rob Hershey, Treasurer
Julie Isaacson, President, Library Board of Directors
Hillary Marcotta
Kathy Miller, President. Friends of the Library
Marc Moyer, Supervisor, Township of Derry
John Rita
Kate Thurston
Bryn Mawr Trust Officers:
Andy Keefer
Jesse Ashcroft
Use of Endowment Funds
According to the Agreement of Trust, the principal is maintained in perpetuity with the income to be used for the Endowment’s stated purposes. A gift of $15,000 was made to the Capital Campaign for furnishings for the new facility, opened in 1997. After 30 years growth, the Endowment, more recently, has supported author visits, music events and service enhancements including:
- A Radio Frequency ID System, allowing self-checkout.
- New furniture and carpet in study areas creating private and quiet spaces.
- An Internet Switch expansion increased speed and access to online services.
Why Donate?
There are many tax advantages, including income, gift and estate charitable tax deductions. For example, it may be possible to avoid capital gains taxes when you donate actual stock instead of the cash from a stock sale, or your will bequest can be deductible from the taxable portion of your estate.