The Shasta Library Foundation’s immediate goal is to develop a $4 million endowment to provide at least $200,000 each year to maintain and grow the library collection.
Since the formation of the Shasta Library Foundation in 1991, our assets have grown from $350 to $1.5 million and we have contributed almost $600,000 to enrich our public libraries' resources and services. We believe it will take the efforts of the public and private sectors working together to provide the library resources and services our community wants and needs.
The Library’s endowment fund is a permanent, county-wide fund whose principle is never used and whose earnings provide additional, long-term income for the Shasta Public Libraries in Anderson, Burney, and Redding.
Donations to the Endowment Fund are NEVER spent; only a percentage of the EARNINGS can be used to provide funds for the Library. As the endowment’s fund balance increases, its earnings increase and provide a growing resource to enrich the public library.
The gift that keeps on giving!
$1,000 donated today is worth $1,302 in 5 years and $9,439 in 50 years. At $30 per book, this means a $1,000 donation will purchase 281 books over the 50 year period!