Why Have an Endowment Fund?

Why have an Endowment Fund?

If there was ever an organization that ought to think, talk and plan in terms of permanency, it is the library foundation.  We all assume that the Madison Public Library is here to stay and maintain its stature for the residents of Madison.  However, in order to achieve this, we need to project what the needs of the library will be for future generations.

The establishment of an Endowment Fund is a statement to the community that the library is preparing itself for the future.  The library is here to stay.

The MPL Foundation’s endowment fund has significantly increased since its inception.  Now in excess of $1.8M, the Endowment Fund, held at the Madison Community Foundation continues to flourish.  This has been made possible by generous contributions by people such as you, who value the work of the library and the role it plays in our community.

The MPL Foundation takes its role in building the Endowment Fund very seriously. 10% of every unrestricted donation to our annual fund is added to the Madison Public Library Endowment. Additionally,  the Foundation Board of Directors require that any unrestricted bequest to the Madison Public Library be assigned by the Library Board to the Foundation.  It is the policy of the Foundation Board to hold such bequests in the Foundation Endowment Account.  All Foundation accounts are for the sole benefit of the Madison Public Library. Our goal is to ensure the well being of the Library for generations to come.

There are many opportunities for giving to the MPL Foundation Endowment Fund.  For additional information, please contact the MPL Foundation office at (608) 266-6318.

 

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