Salida Regional Library Endowment Fund
Create a living legacy that spans generations
What is an Endowment Fund?
An endowment fund is a permanent financial resource that generates annual income for a designated purpose. The Salida Library Board of Trustees began the library’s endowment fund in 2002 with the express purpose of investing and protecting the principal of designated gifts and thereby producing earnings that will support library needs and projects. The principal is never withdrawn; only the investment earnings are used.
History of the Fund
The Board started the fund with $25,000 made up from portions of several recent gifts from the estates of long-time library patrons Brick Chisholm, Dorothy Koster, and Betty Arper, as well as a gift from retired Salida teacher Dean Rouse.
In January 2006, a bequest of $71,138 was added to the fund from lifelong Salida resident Cecilia Williams.
In the Fall of 2006, a bequest of $184,000 was added to the fund from the Caroline Braswell Trust.
By the end of 2014, the Endowment Fund had received gifts totalling $330,635.00.
How to give to the Endowment Fund
People may be reluctant to give to an organization’s general fund any of the wealth they have spent a lifetime accumulating.
The Endowment Fund is the perfect option. It is a separate fund created by resolution to receive sustaining gifts that will be used for investments to generate income for the library. The principal of the gifts may not be spent.
The Endowment Fund can receive outright gifts, marketable securities, bequests designated in your will, and real property.
Also, there may be a Planned Giving option that can save you or your heirs taxes while providing for a gift to the library endowment fund. Speak with your estate planner or legal advisor to see if your circumstances can be improved this way.
Please see Director Susan Matthews (or email email@example.com) if you have questions or wish to make a gift to the endowment.