Gifts to the Library
Service Policy: Gifts to the Library
The Fargo Public Library welcomes and gratefully accepts monetary donations to purchase library materials, furniture and fixtures, and for program support. The library accepts equipment and artifacts at its discretion. Gifts of materials or money to support the library’s collection development efforts are discussed in the Collection Development Policy. Donations become library property.
- Donations of equipment, furniture, and other artifacts will be accepted provided they meet the needs of the institution and are in accordance with the library’s strategic plan. Donations that do not meet the library’s selection criteria will be disposed of as the library deems appropriate.
- The Library Director will acknowledge monetary gifts. Donated equipment or artifacts will be acknowledged if the donor provides a name and address. Notice of memorial contributions will be made to the family or designated representative and a description of the benefit received by the library will be included in the acknowledgement letter.
- The library, as an interested party, cannot appraise equipment, furniture, or any other donated items. Reasonably detailed receipts will be issued stating the number and type of items contributed. In accordance with federal law the library will file IRS form 8282 for items valued at more than $250 which are disposed of within two years of the donation. Form 8282 need not be filed if the item is valued at less than $500 and is distributed to another charitable organization. Appraisal is the donor’s responsibility.
- The Library recognizes that in-kind or non-cash contributions may be received in the form of services, real estate, or marketable securities. Non-cash contributions over a fair market value of $250.00 will be documented by donor name, address, date of contribution, market value, and description. Fair market value shall be determined by the donor by such means as receipt, manufacturer's list price, or appraisal. Gifts that are difficult to value, illiquid, or cannot be used by the Library will not be accepted unless an exception is granted. Until or unless an endowment is established on behalf of the Library, marketable securities and real estate will be sold at the earliest opportunity with proceeds to be received to the appropriate Library donations fund. Exceptions to the gift policy may be allowed with approval of the Library Board of Directors.
Approved by the Library Board of Directors 8-20-2002; Revised 7-26-2005; Revised 11-19-2013