Yes, you can donate boards to the library from commodity deeds. Just deed up the boards and put them in the top layer of your backpack, and the NPC will recognize them. However I've noticed one little confusing "bug":
Let's say you have 120,000 regular boards, and 60,000 oak boards that you're donating. The NPC will say that you have 180,000 regular boards, and 60,000 oak boards I believe. You must donate the oak boards first, if you donate 180,000 regular boards, I believe you lose all the extra points that oak gives you (applies to any other color). So my word of advice is to start donating with the highest color first to make sure it doesn't rip you off. I haven't tested this thoroughly, but I believe I lost out on many points the first time I donated. I hope not. And I hope you don't either!
