Endowed Book Funds
There has been a long tradition of endowing book funds at public libraries. Endowed book funds not only support the purchase of dozens of books a year for the Library's general collection, but may also support the acquisition of numerous other items for our special collections. The essence of an endowed fund is that only the interest is used to purchase materials, the principal never invaded and kept inviolate and in perpetuity. Gifts made to the endowment are essential to the Library. They provide a steady income for the purchase of materials. An endowed fund gives the donor an opportunity to enhance studies in a particular field, honor the memory of a loved one, and support the Tompkins County Public Library.
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How do I create an Endowed Fund?
The minimum gift to create an endowed book fund is $5,000. Endowing an entire collection begins at $100,000. Technology endowments are also possible and start at $25,000. The new item is recognized with a bookplate in a name designated by the donor. A Book Fund can be endowed to honor a special event, an individual, or an organization. The donor determines the subject area and type of library material. At the time of establishment, any amount above the $5000 minimum can be used for the immediate purchase of materials in the name of the fund. And anyone can add to an already established Book Fund. A great library is built book by book. The Endowed Book Fund program offers a means for the community to build our library. With the help of generous donors, this innovative approach can expand the Tompkins County Public Library's collection in perpetuity.
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Individual or Yearly Funds
Honoring a person or occasion with a gift to the library in support of the purchase of one or more books is also a popular method of remembrance. Anyone can make a gift and designate it toward the purchase of a book with a bookplate stating the occasion. In this case, the entire gift goes toward the purchase. The Tompkins County Public Library has enjoyed the yearly generous support of the Marvin and Annette Lee Foundation, and the Fraternal Order of the Eagles in the purchase of large print books. The Smith Charitable Trust funds the purchase of classical music cds, providing a substantial annual addition to our collection.
Creating an endowed Book Fund provides one with the opportunity to help the library by adding to the knowledge of our community.
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