Perhaps you’ve heard about the Troy Public Library Endowment Fund (http://troypl.org/endowment/) created for the benefit of the Troy Public Library. Over the last year, nearly $60,000 has been raised to support the future of the Library and its operations. This money has come from public and private donors in the local community and beyond.
The Friends have been raising money for over fifty years to promote and support the TPL as well. Our money comes from sales in our shops, membership dues, donations, bequests, and grants. In fact, the Friends were the impetus for first having a library in Troy! With one small book drive and sale in the 1960’s, the dedicated group of volunteers donated seed money to begin the collection.
So what is the difference between the Endowment and the money the Friends donate back to TPL?
How the sources of funding are different
The answer has to do with timing! Think of the Endowment as a safeguard for the future. Once a significant amount is raised, the fund will generate income that can be used to supplement the Operating Budget of the TPL, provide building enhancements, and bring in prestigious programming.
The Friends provide present-day, ongoing funding for the daily programs and events planned and implemented by the TPL. Speakers, presentations, summer reading and Winter Wonderland are all made possible by our contributions. We have also been able to do small-scale cosmetic makeovers to areas of the Library that enhance the experience of the patrons and staff.
What we cannot provide are major expenditures, large-scale renovations, or funding for the overhead associated with keeping the doors open and the staff in place. Then Endowment will be a way to stretch the operating budget of the Library to aid in all of that.
Together TPL Is Stronger
The TPL is stronger with these two ongoing funding resources. Both the short-term activities and the long-term health of our beloved resource are protected.
The Friends are proud to support the Endowment Fund…and the Troy Public Library!