Library materials shall be accepted as gifts if the Director deems the material(s) appropriate and consistent with the Library’s collection policies and development.
Gifts of money, real property, securities, personal property, art, antiques or other valuables may be accepted by the Board if appropriate. The Library Director is authorized to accept monetary gifts to the Oconomowoc Public Library on behalf of the Oconomowoc Public Library Board of Trustees.
The Library shall not accept materials which are not outright gifts or gifts in lieu of payment for lost and damaged materials. The Library Board of Trustees has the authority to make whatever disposition it deems appropriate of any donated materials.
The Library shall accept gifts of materials and cash donations for specific purposes. If the Library Director and/or Library Board decide that they cannot abide by the donor’s wishes, the donor will be so informed.
Any gift accepted by the Library is subject to the following conditions
- The Library retains unconditional ownership of the gift
- The Library makes the final decision on its own use or other disposition of the gift
- The Library reserves the right to decide the conditions of display, housing, and access to the materials
Any offers of substantial monetary gifts, or offers of equipment, art, special collections, etc. should be referred to the Library Director. Such offers will be accepted/rejected based on considerations of need, appropriateness, maintenance, precedence, etc. Any gift accepted will be subject to the same conditions of acceptance as outlined above.
The Library Board of Trustees is custodian of the Library’s Gift Fund. The Gift Fund is separate from the Library’s operating budget. Gift Fund expenditures shall, in general, be for special projects, programs, or resources, and for startup funds and building enhancements, that supplement and do not supplant regular operating or capital improvement budget appropriations. Gift Fund expenditures must be approved by the Library Director, who will confer with the Library Board as he/she sees fit.
Designated gifts will be accepted if they meet the Material Selection Policy and/or the Gifts and Donations Policy.
Gift Fund balance is reported regularly to the Library Board. Any expenditures from the Gift Fund are approved at the monthly Library Board meeting.
The Oconomowoc Public Library can be named as a beneficiary in an estate. Bequests may be made as outright gifts of a specific amount, a percentage of the estate, or by naming the Oconomowoc Public Library as an alternative beneficiary through a trust. Planned gifts can include a set amount of money; life insurance, retirement plan, or stock payouts; certain assets, including real estate or tangible personal property; all or a percentage of an estate after all other obligations are paid. Planned gifts remain confidential unless the donor agrees to be acknowledged publicly. In general, planned gifts are added to the Library’s Gift Fund, unless the Library Board directs the Library Director otherwise.