Adding another option to copying or contributing is illuminating:
"Feel free to copy or print or contribute to it."
Essentially, it's a list, so it would be possible to avoid the ambiguity that Andreas Blass' comment refers to by using commas:
"Feel free to copy, print, or contribute, to it."
This shows up the strangeness: copy and print both stand on their own, while contribute needs the 'to'. So this is better:
"Feel free to copy, print, or contribute to, it."
but in my mind is awkward, because the 'it' at the end seems rather lost. This could be resolved by defining 'it':
"Feel free to copy, print, or contribute to, the preceding text."
So, having explored options, I would go with the second option from the question as being the best:
"Feel free to copy it or contribute to it."