Growing the Bainbridge FOL Endowment
Inspired by the desire to provide a stable income source for the library and by the desire to honor the work and dedication of old Friends and new, the FOL Board voted in November 2007 to establish the Friends of the Library Endowment for Bainbridge Public Library. In January of 2008, the Friends Board presented a check for $100,000 for that purpose to Bainbridge Public Library Board President, Val Tollefson.
The FOL Endowment is set up as a perpetual endowment, meaning that the income generated by the Endowment is available to be used by the Bainbridge Public Library while the principal remains intact and grows with future additions.
The Friends of the Library have continued to make additional contributions to the Endowment as their income allowed. In 2016 and 2017 the Friends directed available income to the Bainbridge Public Library "Refresh" library interior renovation project. The total contributed by the Friends to the Refresh Project was $90,000. Late 2017, the Friends resumed adding to the Endowment each month and have continued, even through the COVID-19 pandemic. We are confident that the generosity of community members, whose book donations keep us in business, combined with the dedication of Friends volunteers will enable us to continue to grow the endowment. Ultimately, income from the Friends Endowment will help to support programs, services, physical expansion and operation of library facilities. In the meantime, the Friends will also continue to provide funding for children’s programs, magazine subscriptions, support for the staff and other services as needed.
Contributions to the endowment from individuals are welcome. You can donate online or send us a check. If you wish to send a check, please mail it to:
Treasurer, Bainbridge Friends of the Library
1270 Madison Ave N
Bainbridge Island, WA 98110
Please make out your check to: Bainbridge Friends of the Library and on the memo line of the check, write: Friends of the Library Endowment. You will be mailed a receipt of your donation for tax purposes.
Your donation is tax-deductible to the fullest extent allowed by law. Please consult your tax advisor if you have any questions.
The Friends of the Library thank you for your support!
