Shasta Library Foundation

Impact - Your Donations at Work

The purpose of the Shasta Library Foundation is to raise money from private sources for a $4 million endowment dedicated to the Shasta Public Libraries. The endowment is a permanent fund whose principal is invested and whose earnings will provide additional, ongoing financial resources for the public libraries EVERY YEAR. The Shasta Library Foundation, with the generous assistance of our private citizens and businesses, has reached about one-fourth of that endowment goal.

None of the principal of the Endowment Fund shall be spent or contributed to the Libraries. Only earnings from the principal may be spent. Until the Endowment Fund balance reached $100,000 all of the earnings were reinvested. Thereafter, up to 25% of the earnings were spent and 75% or more of the earnings were retained as principal. Now that the Endowment Fund has reached $500,000, up to 50% of the earnings may be spent with the remaining 50% or more retained as principal.

Finally, at such time as the Endowment Fund reaches $1 million and above, up to 75% of the earnings may be spent with the remaining 25% or more retained as principal. This provides for permanent growth of the Endowment Fund – through reinvestment of earnings, increased value of assets, and new contributions.

The Shasta Library Foundation works collaboratively with the Library Director and the Friends of the Libraries to identify unfunded library priorities. The following criteria are considered in developing the list:

• Enhances the Shasta Public Libraries system.
• Supports the Library’s Strategic Plan.
• Is requested by the Library Director.
• Falls within the funding range established by SLF.
• Takes into consideration restricted donations.
• Provides visibility to the community.
• Supports the endowment.
• Does not support the general operation or administration of the Library.
• Does not create an ongoing cost for the Shasta Public Libraries system.
• Does not relieve Shasta County, the City of Redding or the City of Anderson of their obligations to provide public library services from the General Fund or any voter-approved special taxes.

Recent Support

Since the early 1990s, in addition to growing the endowment, the Shasta Library Foundation has provided over $100,000 in support to the Library capital campaign, Library programs, expanded Library hours and the purchase of book and materials, not including grant funds for special needs. Recent support includes:

• 2004: $1500 from the Book Fund earnings to purchase library materials.
• 2004: $2440 in donations to purchase books.
• 2005: $1000 from the Book Fund earnings to purchase library materials.
• 2005: $1706 in donations to purchase books.
• 2005: $490 in Endowment Fund earnings to support wireless Internet access in Burney.
• 2006: $2000 from the Book Fund earnings to purchase library materials.
• 2006: $1180 in donations to purchase books.
• 2006: $1010 from Endowment Fund earnings to support wireless Internet access in Burney and Anderson.
• 2007: Since the Library was still purchasing new materials with the $1 million raised for collection development in the capital campaign, all of the Book Fund earnings were reinvested to improve Book Fund growth.
• 2007: $1760 in donations to purchase books.
• 2007: $4577 from the Endowment Fund earnings to purchase a color printer, refrigerator and lobby furniture for the Anderson Library and computer work stations for the Burney Library.
• 2008: Because the $1 million designated for collection development in the capital campaign was still being used to purchase new books, the Book Fund earnings were again reinvested to improve Book Fund growth.
• 2008: $240 in donations to purchase books.
• 2008: $5900 from the Endowment Fund to purchase Vocera communication badges and thermal receipt printers for the Redding Library and a photocopy machine for the Anderson Library.

In addition to providing resources to the Shasta Public Libraries from fundraising efforts, the Shasta Library Foundation works with the Library Director and staff to seek grant opportunities which provide supplemental funds from other sources.

Recent Grants

The Shasta Library Foundation helps the Shasta Public Libraries obtain grant funding to meet special, unfunded needs. Recent grants include:

• $5,200 grant from First 5 Shasta for thematic books for children (2003)
• $27,870 grant from The McConnell Foundation Fund at the Shasta Regional Community Foundation to purchase an automated checkout system (2004)
• $1,000 grant from Walmart to sustain standing orders for books on tape and CD (2004)
• $3,000 grant from U.S. Bank to support general operations (2005)
• $1,000 grant from Scripps Howard Foundation to develop library advertising templates (2005)
• $2,000 grant from Redding Rancheria Community Fund to purchase library equipment (2006)
• $2,000 grant from Shasta Regional Community Foundation to support the “Passing of the Books” as part of the Redding Library grant opening celebration (2007)
• $10,000 grant from Scripps Howard Foundation to support the Family Literacy Center (2007)
• $44,500 grant from North State Rotary Clubs to support the Family Literacy Center (2008)
• $7901 grant from The McConnell Foundation Fund at the Shasta Regional Community Foundation with $1500 in matching funds from the Shasta Library Foundation and $1620 from the Friends of the Libraries in Redding, Burney and Anderson to bring wireless Internet access to the Burney and Anderson Libraries and to add ports housed at the Redding Library (2008)
• $941 grant from Scripps Howard Foundation to purchase a new photocopier (2008)
• $11,000 grant from Scripps Howard Foundation to support the Family Literacy Center (2009)