Fund for Illinois Libraries
The Illinois Library System Directors
Organization (ILSDO), a tax-exempt 501(c)(3) organization, was
formed to promote the development of libraries and Library Systems
in Illinois and to encourage the improvement of library service
to all Illinois residents.
As a way of increasing library funding,
libraries often solicit funds from the general public, businesses,
or foundations. In some cases, donors are permitted to give only
to organizations holding IRS 501(c)(3) tax-exempt status. For many
libraries this means foregoing a gift, as the time, effort, and
costs of establishing and maintaining 501(c)(3) status are prohibitive.
To help Illinois libraries in their fundraising
efforts, Illinois Library Systems has created the Fund for Illinois Libraries.
The purpose of the fund is to enable libraries to receive gifts
from individuals or organizations that can only make donations
to
501(c)(3) charitable organizations. 178
Illinois libraries have already used it to enhance their fund
raising activities! (library
list by System)
To take advantage of this opportunity,
follow these 3 easy steps.
- Sign a contract authorizing ILSDO to perform
this service.
- The funding agency or individual writes a check to ILSDO
Fund for Illinois Libraries and sends the check
to ILSDO, c/o Lewis & Clark Library System, 6725 Goshen Road, Edwardsville, IL 62025.
- The ILSDO Treasurer will send you
a check written to your library.
For more information, please look at
these FAQs [pdf]
or contact your Library
System Director.
"This would be a very significant
service ILSDO could provide, particularly to the
smaller libraries that
either would find it
hard to justify the cost of establishing a 501(c)(3)
or even more importantly of maintaining it properly, with
the
annual requirements
of a foundation. For these small library foundations,
I have
seen too often IRS penalties where they have not
kept up with the requirements
of a 501(c)(3). ILSDO's doing so would be the best of
both worlds for these libraries."
--Philip Lenzini, Attorney
Kavanagh, Scully, Sudow, White & Frederick, P.C.
Peoria, Illinois
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