Gifts and Donations Policy

Last updated June, 2026 

The LPPL gratefully accepts donations, which play a significant role in supporting building repairs, furniture and equipment purchases, community programs, and improvements to our collection.  

Financial Contributions 

The library accepts financial gifts through cash, check, PayPal, Benevity.com, electronic wire transfer, or other means as able. As stated in our bylaws, all gifts of stocks/bonds must be sold upon receipt.  

All monetary gifts are recorded in our unrestricted donations account and used at the discretion of the Director and the Board of Trustees to fulfill the library’s mission. The Director is empowered to make purchases below $500 that are aligned with the library’s mission. All other non-recurring expenses require prior authorization by the Board. At the end of each fiscal year, the Board will vote to determine if cash reserves should be spent, rolled over to the next fiscal year for operating and/or capital expenditures, or placed in the endowment.  

Restrictions, if desired, must be provided in a signed letter, according to the New York Prudent Management of Institutional Funds Act (“NYPMIFA”). These funds are held in a separate ledger fund for tracking purposes. LPPL highly recommends that donors work with the Director and the Board of Trustees to ensure that restrictions align with the mission of needs of the organization and our community.  

Material Donations 

The Lake Placid Public Library may accept material donations. The Director will choose to accept materials based primarily on the condition and usefulness of the item as well as current storage capacity. The Lake Placid Public Library retains full control over all donated materials. Donated items are added to collections or furnishings, given to other institutions, or disposed of in other ways at the sole discretion of the Lake Placid Public Library. No agreement will be made to waive this control.  

The Lake Placid Public Library does not provide pick-up service for donated materials, and all deliveries of donations must be arranged in advance with the Director, or his/her designee.  

Recognition 

The Lake Placid Public Library will acknowledge all donations over $25 in writing. Only in the case of financial gifts will monetary values be assigned. It is the responsibility of the donor to have materials appraised before donating them to the Library. 

Donors who gift over $1000 will be invited to have a plate added to our donor recognition plaque, to be added at the end of the fiscal year, and to be listed in our Annual Report. Additional recognition for significant contributions will be determined in consultation with the Director. 

Memorial Donations 

The LPPL gratefully accepts memorial donations. Memorial donations from friends and family are recorded, and a summary letter is provided to the next of kin. Friends or family who are arranging the memorial donations may commemorate their loved one by working with the Director to purchase a small collection of appropriate books and include gift plates in their front covers. Other restricted uses of memorial funds must be arranged with the Director. Unfortunately, we are no longer able to grant requests to add memorials to the garden and space for material donations is limited (see above).