Creating an endowment fund is a long-lasting way of showing your support for the Library. Endowments are created with a donation of $50,000 or greater. Gifts of smaller amounts can be added to one of the many existing endowment funds. The contribution is invested and will earn valuable income in perpetuity. The Library then uses the income to support the donor’s area of choice. The endowment will remain at the McGill University Libraries to support our collections on a continuing basis. The principal of an endowment is never spent.
Private support has always played an important role in providing the resources needed to fulfill the mission of the McGill Library: providing students and researchers with the best possible information resources, equipment, and comfortable and inviting settings. Annual support to the Library comes from three main funds:
McGill’s undergraduate students are important donors to the McGill Library. The Students' Society of McGill University in cooperation with the McGill University Alumni Association created the Library Improvement Fund (LIF) in 1996, setting the stage for a ground-breaking donation of $500,000 to McGill University Libraries.
The LIF continues to raise significant funds annually in support of the Library. In recognition of the importance of the libraries to the mission of the entire university, the McGill Fund Council has matched the students generosity every year.
This policy establishes the conditions under which gifts-in-kind may be accepted by the University as a charitable donation for tax and non-tax receipting purposes, and assigns authority for such acceptance. Gifts-in-kind are non-cash gifts, such as books, archival records, artwork, real estate... McGill may accept a gift of tangible property as a charitable donation if such property supports the goals of the University, respects its academic freedom and preserves its integrity.
Since James McGill's founding gift of 46 acres and 10,000 pounds in 1813, McGill University has grown to international prominence, thanks in part to significant private support, or major gifts, from alumni and friends.
All gifts to the McGill Libraries are important. Major gifts—private support of $100,000—are especially vital to the continued excellence of the McGill Library. Donors who make this exceptionally generous commitment to McGill can direct their generosity to any of McGill's 13 libraries and specialized collections.
Many McGill alumni and other friends of the library have chosen to make planned gifts in support of the libraries—that is, the commitment is made in the present, but the gift is realized in the future. A planned gift allows you to make a significant impact at the university while receiving tax benefits. These can include gifts of bequests, life insurance, charitable remainder trusts, retirement funds, gifts-in-kind and gifts of residual interest.