"Books are the legacies that a great genius leaves to mankind, which are delivered down from generation to generation as presents to the
posterity of those who are yet unborn."
~ Thomas Huxley
What is an Endowment?
An endowment is an investment that provides endless support to charitable causes. It is an investment in the future of Santa Barbara. It's a gift. A promise without end, made by you to your children and grandchildren, and in support of your community. Endowments are made possible by you. Those who have lived and embraced all this city has had, will have, and can have.
Endowments are permanent. They are funds with the requirement that the principal is never spent. The balance in the funds is invested, earning income that is then spent to support programs, services, and material acquisition for the Library in perpetuity.
The General Endowment Fund:
In 2002, the Friends of the Santa Barbara Library celebrated its 50th Anniversary. It was during our Golden Jubilee, that the Board of the Friends made a commitment to creating an Endowment Fund to insure that our library would always have the funds necessary to serve the community.
This Endowment Fund has been established. It is the continued focus of the Friends to see that Endowment grow. The purpose of the Endowment Fund is to supply funds in perpetuity for the purchase of materials and the funding of all children's programs. All monies deposited in the Fund are kept intact. Only the interest generated, year after year will used to make such purchases.
By contributing to any of the Funds, you give a gift to the community over and over again. Surely, there can be no more rewarding gift to yourself than knowing you are enhancing the knowledge of others for generations to come. There are additional ways in which you can contribute to this Fund:
Commemorative Endowment Fund:
A memorial gift to the Friends of SBPL can help to perpetuate values and the love of books and reading that is an important part of a loved one's life. Gifts may honor a person during his or her lifetime or commemorate a significant event. Honor and Memorial Gifts in any amount are directed to the Commemorative Endowment Fund. Each contribution is personally acknowledged and appropriate family members of an honoree are notified of the gift.
If you would like to personally notify the honoree, we have a wonderful way for you to do so. A beautiful gift card -featuring a watercolor painting by local artist and past board member, Sally Hamilton- is a unique way to commemorate a birthday, anniversary, memorial, retirement, Mother's Day, Father's Day etc. You may request the card be sent to you or directly to the honoree for a donation.
A Book Endowment:
A Book Endowment provides one new book each year in perpetuity. This endowment is established for the full amount of $1000 or in 4 quarterly installments of $250. A book plate will be placed in a book each year giving the name of the person who established the fund or in whose honor or memory the endowment is established and the name of the donor or donors.
Special Collection Endowment:
You can support the library's book collections through the Special Collection Endowment Fund. These permanent endowments are established in the name of the donor or honoree, and return annual interest proceeds to the Library for special book purchases. Each book that is purchased has an appropriate book plate placed within as an permanent record.
Donors have the option to specify the area that they wish to have books purchased in, or they may opt to have the funds unrestricted which allows the Library to purchase books within all collections. A gift of $25,000 or more is required to establish a Special Collection Endowment. A special plaque will be placed in the library to acknowledge all Special Collection Endowments.
Many businesses and corporations match personal gifts to non-profit organizations made by employees, retirees and their family members. Contact the personnel office at your own company and they will be happy to provide you with information about matching gifts.
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